Waters Revenue, Profits Climb In Q1
Coming off a strong 2012, Milford-based Waters Corp. announced an increase in both sales and earnings for the first quarter of this year.
The global laboratory instrument maker said its sales rose 2 percent over the same period last year, to $430 million, but that foreign currency rates pushed sales growth down 3 percent.
Earnings per share were $1.39, up from 98 cents in the first quarter of 2012. Net income was $121 million, compared to $88.7 million a year ago.
"Constant currency sales growth was in line with our expectations and generally stronger than in recent quarters," said Chairman, President and CEO Douglas A. Berthiaume. "We are encouraged by demand trends for new instrument systems, especially in China and India, and feel that positive business momentum across our major markets is sustainable."
Editor's note: An earlier version of this story incorrectly stated the company's first quarter sales.
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