NEW YORK (GenomeWeb News) — Waters today said first-quarter revenue increased 14 percent and net income jumped 26 percent.
Total revenue for the three months ended March 31 rose to $330.8 million from $290 million year over year.
CEO Doug Berthiaume said the “strong start for 2007” represents continued growth from 2006, and said the “broad-based” growth was “indicative of a very positive response to our newly introduced instrument systems and consumable products.”
R&D spending dipped to $18.7 million from $19 million in the prior-year period.
Net income grew to $55.9 million from $44.2 million year over year.
As of March 31, Waters had $503.7 million in cash and cash equivalents.