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Waters' Fiscal Q2 Revenue Up 17 Percent as R&D Slides and Profit Jumps 25 Percent

NEW YORK (GenomeWeb News) — Waters today said its fiscal second-quarter revenue climbed 17 percent and its net income grew by 25 percent.
 
Total revenue for the three months ended June 30 rose to $353 million from $302 million year over year.
 
Waters CEO Douglas Berthiaume said the company’s “generally broad-based” first-quarter growth sped up in the second quarter, “with continued rapid uptake of our new products and strengthening demand from life science customers, including our large pharmaceutical accounts.”
 
Berthiaume also called the first half of 2007 “very encouraging.”
 
R&D spending slid 3 percent to $19.1 million from $19.7 million in the prior-year period.
 
Net income grew to $59.9 million from $47.8 million year over year.
 
As of June 30, Waters had $544.3 million in cash and cash equivalents.

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