July 22, 2008
Waters Profit Up On Sales, Accounting Error
By Matthew L. Brown
Milford-based Waters Corp. said its second quarter net income hit $83.1 million compared to $59.9 million a year ago.
The company said its sales increased 13 percent from $353 million in the second quarter of 2007 to $399 million in the second quarter of 2008. Sales over the first half of the year hit $770 million compared to $683 million in the first half of 2007.
The company, which makes high-tech laboratory equipment, said it was at least helped along by accounting errors made prior to the second quarter. The company said it overstated its income tax expense and understated its amortization expenses. When corrected in the second quarter, the company had an additional $7.6 million in net income.
WBJ Web Partners
Most Recent
Most Recent
0 Comments