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Waters Posts 15-Percent Surge in Q3 Sales; US, Asia Markets Help Growth

NEW YORK, Oct. 26 (GenomeWeb News) - Waters today reported a 15-percent spike in third-quarter sales across its product portfolio, resulting in increased revenues and earnings.

 

Total receipts for the quarter ended Sept. 30 totaled $264.8 million, up from $230.4 million during the same period one year ago. These results reflect strong demand from US and Asian pharma and industry for all Waters product, as well as improved business conditions in Europe, according to the company.

 

Third-quarter R&D spending increased to $17 million from $15.1 million last year.

 

Waters' net income for the quarter increased to $51.9 million, or $.43 per basic share, from $36.4 million, or $.30 per basic share.

 

As of Oct. 2, Waters had $471.2 million in cash and cash equivalents.

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