Waters Q4 Profit Crushes Estimates

(RTTNews) - Waters Corp (WAT), an analytical instruments maker, on Monday reported fourth-quarter net earnings of $151.3 million or $1.80 per share compared with $141.6 million or $1.65 per share last year.

Excluding items, adjusted earnings for the quarter were $1.99 per share compared with $1.70 per share a year ago.

Revenues for the quarter were $583.9 million compared with $565.4 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.89 per share on revenues of $582.2 million for the quarter. Analysts' estimates typically exclude special items.

Commenting on the performance, CEO Douglas Berthiaume said, "Strong organic sales growth in the fourth quarter was driven by broad-based pharmaceutical demand and solid recurring revenue growth."