WASHINGTON (dpa-AFX) - Waters Corp., (WAT), a maker of analytical instruments for laboratories, Tuesday reported a rise in net earnings as well as revenues for the second quarter. In addition, both earnings and revenues topped analysts' estimates.
For the three months to June, net earnings rose to $96.53 million or $1.13 per share, from $89.31 million or $1.03 per share a year earlier.
Excluding certain items, earnings totaled $103.87 million or $1.22 per share, compared with $93.54 million or $1.08 per share a year ago.
On average, seventeen analysts polled by Thomson-Reuters estimated the company's earnings to be $1.21 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly sales rose by 7 percent to $482 million, from $451 million last year, above the $476.05 million that Wall Street expected.
'Broad-based pharmaceutical demand and strong sales in the U.S. highlighted our organic revenue growth in the second quarter,' said CEO Douglas Berthiaume.
Copyright RTT News/dpa-AFX