NEW YORK, Jan. 28 (GenomeWeb News) - Driven by a 40 percent growth in sales of its mass-spectrometry technology, Waters yesterday reported Q4 sales of $324 million, up 18 percent over $275 million in sales for the same quarter last year, the company said yesterday.
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Doug Berthiaume, Waters chairman, CEO and president, said the increase in revenue reflected greater demand, but also showed a "pretty weak fourth quarter last year," he said. The company did not disclose revenue figures for its mass-spec sales; the 40-percent number was reported in Waters' conference call to investors yesterday.
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"The growth is higher than I'd expect the true momentum as being," he said. Mass spec sales were driven by the launch of the Acquity UPLC and Qtof Premier products, the company said.
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Waters spent $16.5 million on R&D in the quarter, compared to $16.8 million in the year-ago period.
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The company had net income of $72 million for the quarter, up 22 percent over $58 million for the year ago quarter.
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Waters reported cash and cash equivalents of $539 million on hand as of Dec. 31.