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For Immediate Release
Contact: John Lynch, Vice President, Treasurer and Investor Relations, 508-482-2314
Waters Reports Fourth Quarter 2014 Financial Results
Milford, Massachusetts, January 26, 2015 Waters Corporation (NYSE/WAT) reported fourth quarter 2014 sales of $584 million, an increase of 3% in comparison to sales of $565 million in the fourth quarter of 2013. In the quarter, the effect of foreign currency translation reduced sales by 5%. On a GAAP basis, earnings per diluted share (EPS) for the fourth quarter were $1.80 compared to $1.65 for the fourth quarter of 2013. On a non-GAAP basis, including the adjustments in the attached reconciliation, EPS grew 17% to $1.99 from $1.70 in the fourth quarter of 2013. A description and reconciliation of GAAP to non-GAAP EPS is attached and can be found on the Companys website at http://www.waters.com under the caption Investors.
For the full year, sales for the Company were $1.99 billion, an increase of 4% in comparison to sales of $1.90 billion in 2013, with foreign currency translation reducing sales growth by about 2%. On a GAAP basis, EPS for 2014 were $5.07 compared to $5.20 in 2013. On a non-GAAP basis, including adjustments in the attached reconciliation, EPS grew 9% to $5.48 from $5.04 in 2013.
Commenting on the Companys recent performance, Douglas A. Berthiaume, Chairman, President and Chief Executive Officer said, Strong organic sales growth in the fourth quarter was driven by broad-based pharmaceutical demand and solid recurring revenue growth.
As communicated in a prior press release, Waters Corporation will webcast its fourth quarter 2014 financial results conference call this afternoon, January 26, 2015 at 5:00 p.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 3, 2015 at midnight eastern time, similarly by webcast and also by phone at 203-369-1809.
About Waters Corporation
For over 50 years, Waters Corporation (NYSE/WAT) has created business advantages for laboratory-dependent organizations by delivering practical and sustainable innovation to enable significant advancements in such areas as healthcare delivery, environmental management, food safety and water quality worldwide.
Pioneering a connected portfolio of separations science, laboratory information management, mass spectrometry and thermal analysis, Waters technology breakthroughs and laboratory solutions provide an enduring platform for customer success.
The following information was filed by Waters Corp (WAT) on Monday, January 26, 2015 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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