July 28, 2009
Waters Q2 Sales Down 9%
By Matthew L. Brown
Milford-based Waters Corp. said sales were down 9 percent in the second quarter as profits declined from $83 million a year ago to $70 million.
Sales fell from $398 million for the second quarter of 2008 to $362 million. The company spent slightly less on selling, administrative expenses and research and development than it did a year ago and claimed operating income of $87 million, about level with last year's numbers.
The laboratory equipment maker said sales for the first half of the year declined 10 percent to $696 million. Net income for the half was $143 million compared to $152 million a year ago.
The company said sales figures have been hurt by the dollar's weakness and that the quarter's results were in line with expectations.
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