MILFORD, Mass. (AP) — MILFORD, Mass. (AP) — Waters Corp. (WAT) on Tuesday reported first-quarter earnings of $102.2 million.
The Milford, Massachusetts-based company said it had net income of $1.72 per share. Earnings, adjusted for non-recurring costs and restructuring costs, were $2.21 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.
The maker of products used in drug discovery and development posted revenue of $636.8 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $634.3 million.
For the current quarter ending in June, Waters expects its per-share earnings to range from $2.50 to $2.60.
The company expects full-year earnings in the range of $11.75 to $12.05 per share.
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