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Waters Q3 Revenues Up, Income Down

NEW YORK, Oct. 22 (GenomeWeb News) - Waters reported revenues of $230.4 million for the third quarter today, up from $216.0 million for the same period last year.

 

The Milford, Mass., instruments company had net income of $36.4 million, compared to $39.0 million for the same period last year.

 

For the quarter, R&D expenses increased to $15.1 million, from $13.6 million in the same period last year.

 

The company said its results for the quarter include "restructuring and other incremental costs and adjustments recorded in relation to the Company's reorganization of the HPLC and mass spectrometry businesses, and restructuring charges relating to the acquisition of the rheology business of Rheometric Scientific." Additionally, they reflect charges for in-process R&D that relate to the acquisition of Creon Lab Control, the company said.

 

As of Sept. 30, Waters had $288.1 million in cash and cash equivalents, up from $263.3 million at the end of 2002.

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