MILFORD, Mass. (AP) — MILFORD, Mass. (AP) — Waters Corp. (WAT) on Wednesday reported fourth-quarter earnings of $231.4 million.
On a per-share basis, the Milford, Massachusetts-based company said it had net income of $3.88. Earnings, adjusted for amortization costs and non-recurring costs, came to $4.10 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.02 per share.
The maker of products used in drug discovery and development posted revenue of $872.7 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $857.1 million.
For the year, the company reported profit of $637.8 million, or $10.71 per share. Revenue was reported as $2.96 billion.
For the current quarter ending in March, Waters expects its per-share earnings to range from $2.17 to $2.25.
The company expects full-year earnings in the range of $12.70 to $13 per share.
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