NEW YORK (GenomeWeb News) — Waters today said fourth-quarter 2006 revenues increased 17 percent on strong pharma demand as R&D spending rose 17 percent and profit widened 6 percent.
Total receipts for the three months ended Dec. 31, 2006, increased to $387 million from $332 million year over year.
CEO Douglas Berthiaume said most of the revenue surge came from “improved pharmaceutical demand, continued growth in our overseas markets, and strong sales growth by our TA instruments division.”
Foreign currency translation was responsible for 3 percent of the increased revenue, the company said.
R&D spending increased to $19.5 million from $16.7 million year over year.
Waters said profits for the quarter grew to $78.9 million from $75.6 million in the year-ago period.
Waters said it had around $514.2 million in cash and equivalents as of Dec. 31, 2006.