Waters Corporation (NYSE/WAT) reported today third quarter 2013 sales of $457 million, a 2% increase in comparison to sales of $450 million in the third quarter of 2012. For the quarter, foreign currency translation reduced sales growth by 2%. On a GAAP basis, earnings per diluted share (E.P.S.) for the third quarter were $1.14 compared to $1.12 for the third quarter in 2012. On a non-GAAP basis, E.P.S. were up 1% to $1.19 in the third quarter of 2013 from $1.18 in the third quarter of 2012. A reconciliation of GAAP to non-GAAP E.P.S. is attached.
Through the first nine months of 2013, sales for the Company were $1.34 billion, an increase of 1% in comparison to sales of $1.32 billion in the first nine months of 2012. Foreign currency translation reduced sales growth during the first nine months of 2013 by 2%. E.P.S. for the first nine months of 2013 were $3.56 compared to $3.19 for the comparable period in 2012. On a non-GAAP basis and including adjustments on the attached reconciliation, E.P.S declined less than 1% in the first nine months of 2013 to $3.34 from $3.35 in 2012.
Commenting on the quarter, Douglas Berthiaume, Chairman, President and Chief Executive Officer said, “Slower sales growth to our pharmaceutical base affected our overall top line performance. However, improved business conditions across our industrial chemical markets, in combination with stronger global governmental and academic demand, contributed to the sales growth in the quarter.”
As communicated in a prior press release, Waters Corporation will webcast its third quarter 2013 financial results conference call this morning, October 22, 2013 at 8:30 a.m. eastern time. To listen to the call, connect to www.waters.com, choose “Investor” and click on the Live Webcast. A replay of the call will be available through October 30, 2013, similarly by webcast and also by phone at 402-220-4157.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. Pioneering a connected portfolio of separations science, laboratory information management, mass spectrometry and thermal analysis, Waters technology breakthroughs and laboratory solutions provide an enduring platform for customer success.