logo
  Join        Login             Stock Quote

Waters (WAT) 4Q Earnings Jump 28.3 Pct, Beat Estimates

 January 22, 2013 08:20 AM
 


(By Balaseshan) Waters Corp. (NYSE: WAT), an analytical instrument manufacturer, reported a 28.3% jump in quarterly earnings on a tax benefit despite a marginal increase in revenue. Despite revenue missing consensus, adjusted earnings exceeded Street's expectations.

Earnings for the fourth quarter were $175.94 million or $2.00 per share, higher than last year's $137.15 million or $1.51 per share. Adjusted earnings per share (EPS) rose to $1.59 from $1.56.

Net sales marginally increased 0.1% to $521.77 million. In the quarter, constant currency sales growth was approximately 1.5%.

Analysts, on average, polled by Thomson Reuters had expected a profit of $1.58 per share on revenue of $522.23 million for the fourth quarter.

[Related -China Sets A Floor For Growth]

"Demand trends in the fourth quarter were generally consistent with those observed throughout 2012. Our recurring revenues and business in Asia contributed to overall constant currency growth during a challenging period for the company," said Douglas Berthiaume, Chairman, President and Chief Executive Officer.

For the full year 2012, the company posted net income of $461.44 million or $5.19 per share, up from $432.97 million or $4.69 per share last year. Adjusted EPS rose 2% to $4.93, in line with consensus.

Sales for the year decreased 0.4% to $1.84 billion, in line with Street's expectations. Foreign currency translation reduced sales growth by about 2%.

"For the full year, the combination of a stable pricing environment and prudent cost control allowed us to maintain our operating income level and grow our EPS principally by reducing our share count through share repurchases," said Berthiaume.

[Related -Are These The Ultimate Growth And Value Plays?]

WAT closed Friday's regular session up 1.46% at $91.89. The stock has been trading between $74.12 and $94.47 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageFacebook Inc (FB): You Might Not Like It Today, But You’ll Like It Tomorrow

Do you honestly want to invest in stocks right now? It sure looks like the bull market is at least on read on...

article imageJPMorgan Chase & Co. (JPM) Q1 Earnings Preview: Regulation Costs To Trim Guidance?

JPMorgan Chase & Co. (NYSE:JPM) will host a conference call to review first quarter 2014 financial results read on...

article imageLinkedIn Corp (LNKD): Can Price Overcome Costs?

Stocks are hot, hot, blazing hot after the Federal Reserve’s minutes essentially said not to worry much read on...

article imageStaples, Inc. (SPLS): Insider Buying – CEO Pulls a 180

Last week’s NASDAQ meltdown may have spooked boardroom investors as the number of companies with records of read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.