Waters Corporation (NYSE:WAT) reported today second quarter 2012 sales of $451 million, an increase of 1% over sales of $448 million in the second quarter of 2011. Foreign currency translation decreased sales growth by 3%. On a GAAP basis, earnings per diluted share (E.P.S.) for the second quarter were $1.09 compared to $1.07 for the second quarter in 2011. On a non-GAAP basis, E.P.S. were up 8% to $1.17 in the second quarter of 2012 from $1.08 in the second quarter of 2011. A reconciliation of GAAP to non-GAAP E.P.S. is attached.
Through the first six months of 2012, sales for the Company were $872 million, slightly less than sales of $875 million in the first six months of 2011. Foreign currency translation decreased sales growth during the first half of 2012 by 2%. E.P.S. for the first six months of 2012 were $2.08 compared to $2.09 for the comparable period in 2011. On a non-GAAP basis and including adjustments on the attached reconciliation, E.P.S. grew 2% in the first six months of 2012 to $2.17 from $2.12 in 2011.
Commenting on the quarter, Douglas Berthiaume, Chairman, President and Chief Executive Officer said, “Operational efficiency allowed us to achieve our profitability objectives in light of challenging market conditions associated with a generally weaker global economic environment.”
As communicated in a prior press release, Waters Corporation will webcast its second quarter 2012 financial results conference call this morning, July 24, 2012 at 8:30 a.m. eastern time. To listen to the call, connect to www.waters.com, choose “Investors” and click on the Live Webcast. A replay of the call will be available through July 31, 2012, similarly by webcast and also by phone at 402-220-5218.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.