Waters: 4Q Earnings Snapshot
MILFORD, Mass. (AP) _ Waters Corp. (WAT) on Wednesday reported fourth-quarter net income of $185.2 million, after reporting a loss in the same period a year earlier.
The Milford, Massachusetts-based company said it had net income of $2.46 per share. Earnings, adjusted for one-time gains and costs, were $2.87 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.
The maker of products used in drug discovery and development posted revenue of $715 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $702.5 million.
For the year, the company reported profit of $593.8 million, or $7.65 per share. Revenue was reported as $2.42 billion.
For the current quarter ending in April, Waters expects its per-share earnings to range from $1.65 to $1.75. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.78.
The company expects full-year earnings in the range of $9.20 to $9.45 per share.
Waters shares have climbed 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has fallen slightly more than 3 percent in the last 12 months.