Waters: 2Q Earnings Snapshot
MILFORD, Mass. (AP) _ Waters Corp. (WAT) on Tuesday reported second-quarter net income of $155.7 million.
The Milford, Massachusetts-based company said it had profit of $1.98 per share. Earnings, adjusted for one-time gains and costs, were $1.95 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The maker of products used in drug discovery and development posted revenue of $596.2 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $598 million.
For the current quarter ending in October, Waters expects its per-share earnings to range from $1.85 to $1.95. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.96.
The company expects full-year earnings in the range of $8.05 to $8.20 per share.
Waters shares have climbed nearly 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has risen 6 percent in the last 12 months.