Waters Corporation (WAT) reported third quarter 2009 revenues of $374 million, a decrease of 3% over that of $386 million in the third quarter of 2008. On a GAAP basis, earnings per diluted share for the third quarter were 79 cents, compared to 71 cents for the third quarter of 2008. This exceeded the Zacks Consensus Estimate of 77 cents per share.
Business trends in the third quarter suggested a stabilization of demand by major end markets. Customer interest in new products is encouraging and indicates that research-related spending may benefit its future results.
Through the first nine months of 2009, sales for the Company were $1.07 billion, a decrease of 8% in comparison to sales of $1.15 billion in the first nine months of 2008. Foreign currency translation contributed negatively to sales growth during the first nine months of 2009 and reduced sales by 4%. E.P.S. for the first nine months of 2009 were $2.26 compared to $2.21 for the comparable period in 2008.
Waters Corporation operates as an analytical instrument manufacturer primarily in the United States, Europe, Japan, and Asia. The company designs, manufactures, sells, and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC), and mass spectrometry (MS) instrument systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
In addition, the company develops and supplies software based products that interface with the company’s instruments, as well as other manufacturers’ instruments. Waters Corporation was founded in 1958 and is based in Milford, Massachusetts. Major competitors are Agilent Technologies Inc (A), Life Technologies Corporation (LIFE) and Thermo Fisher Scientific Inc. (TMO).
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