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For Immediate Release
Contact: Gene Cassis, Vice President of Investor Relations, 508-482-2349
Waters Reports Fourth Quarter 2011 Financial Results
Milford, Massachusetts, January 24, 2012 - Waters Corporation (NYSE/WAT) reported fourth quarter 2011 sales of $521 million, an increase of 8% from sales of $484 million in the fourth quarter of 2010. In the quarter, foreign currency translation was about neutral to sales growth. On a GAAP basis, earnings per diluted share (E.P.S.) for the fourth quarter were $1.51 compared to $1.36 for the fourth quarter of 2010. On a non-GAAP basis, including the adjustments in the attached reconciliation, E.P.S. grew 13% to $1.56 from $1.38 in the fourth quarter of 2010.
For the full year, sales for the Company were $1.85 billion, an increase of 13% over sales of $1.64 billion in 2010 with foreign currency translation adding about 3% to sales growth. E.P.S. for 2011 were $4.69 compared to $4.06 in 2010. On a non-GAAP basis, including adjustments in the attached reconciliation, E.P.S. grew 18% to $4.81 from $4.09 in 2010.
Commenting on the Companys 2011 performance, Douglas Berthiaume, Chairman, President and Chief Executive Officer said, Our positive business momentum continued nicely in the fourth quarter with relatively balanced strength highlighting the results. The fourth quarter completed a very successful 2011 for Waters with double-digit revenue growth, faster earnings growth and very impressive cash generation.
As communicated in a prior press release, Waters Corporation will webcast its fourth quarter 2011 financial results conference call this morning, January 24, 2012 at 8:30 a.m. eastern time. To listen to the call, connect to www.waters.com, choose Investor Relations and click on the Live Webcast. A replay will be available through February 1, 2012 at midnight eastern time, similarly by webcast and also by phone at 203-369-1317.
This release may contain forward-looking statements regarding future results and events, including statements regarding customer acceptance of our products, expansion of our business in Asia and spending by certain end-markets that involve a number of risks and uncertainties. For this purpose, any statements that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words, believes, anticipates, plans, expects, intends, suggests, appears, estimates, projects, and similar expressions are intended to identify forward-looking
The following information was filed by Waters Corp (WAT) on Tuesday, January 24, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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