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Waters: 2Q Earnings Snapshot

July 24, 2018

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WAT at https://www.zacks.com/ap/WAT

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