Waters Earnings Soared To End 2012
Waters Corp., the Milford-based international laboratory instrument manufacturer, ended last year with a slight increase in revenue but a healthier jump in net income that gave the company a higher profit margin for all of 2012 over the previous year.
In its annual filing with the U.S. Securities and Exchange Commission, Waters reported revenue of $522 million for the fourth quarter, up slightly from $521 million in the final three months of 2011. Its net profit, meanwhile, was $175.9 million ($2 per diluted share), a 21-percent jump over the $137.1 million ($1.51 per diluted share) it reported in the fourth quarter of 2011.
For the year, however, revenue fell slightly from $1.85 billion to $1.84 billion. But net profit, helped by the end-of-the-year surge, amounted to $461.4 million ($5.19 per diluted share), up from $433 million ($4.69) in 2011.
Douglas Berthiaume, the company's chairman and CEO, credited business in Asia as well as internal cost controls to help grow profits and earnings per share, in spite of what he called a "challenging period" for the company.
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