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 imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the 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.