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Waters Corporation Reports Second Quarter 2012 Results

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.

Stock quotes in this article: WAT 

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