Waters Q4 Organic Sales Increase 7 Percent on Strong Sales in Asia

NEW YORK, Jan. 24 (GenomeWeb News) - Waters today reported that fourth-quarter sales increased 3 percent on strong growth in its chromatography business and sales in Asia.

Total sales for the three months ended Dec. 31 increased to $332 million from $324 million one year ago. Eliminating the effects of foreign currency, sales grew by 7 percent, the company said.

R&D spending in the period increased slightly to $16.7 million from $16.5 million year over year.

Waters' net income increased to $78.2 million, or $0.72 per basic share, from $71.5 million, or $0.59 per basic share in the year-ago period.

CEO and President Douglas Berthiaume said the revenue and profit "exceeded our expectations."

As of Jan. 1, Waters had approximately $494 million in cash and equivalents on hand.