Waters Corporation (WAT) reported earnings per share of $1.10, excluding restructuring charges, for the fourth quarter of 2009, which matched the Zacks Consensus Estimate.
The company reported fourth quarter 2009 sales of $429 million, an increase of 3% from sales of $418 million in the fourth quarter of 2008. In the quarter, foreign currency translation increased the sales growth rate by 4%. For the full year, sales for the Company were $1.50 billion, a decrease of 5% from sales of $1.58 billion in 2008. This decrease in sales includes the effects of foreign currency translation, which reduced sales by 2%.
Cash and cash equivalents were $630 million with long-term debt of $500 million and shareholders’ equity of $847 million.
The company recently introduced the new Waters® ACQUITY UPLC® H-Class System incorporating the ACQUITY UltraPerformance LC® (UPLC) with liquid chromatography. This is designed to help more laboratories realize the scientific and business benefits of sub-2-micron particle column technology by making it more accessible to a broader range of industries, applications and operators.
For 50 years, Waters Corporation creates business advantages for laboratory-dependent organizations by delivering practical and sustainable innovation to enable significant advancements in such areas as healthcare delivery, environmental management, food safety and water quality worldwide.
Pioneering a connected portfolio of separations science, laboratory information management, mass spectrometry and thermal analysis, Waters technology breakthroughs and laboratory solutions provide an enduring platform for customer success. Major competitors are Agilent Technologies Inc (A) and Life Technologies Corporation (LIFE).
We currently have a Neutral recommendation on WAT.
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