Waters Corporation (NYSE/WAT) reported today first quarter 2014 sales of $431 million, essentially flat versus sales of $430 million in the first quarter of 2013. In the quarter, the effect of foreign currency translation was neutral to sales growth. On a GAAP basis, earnings per diluted share (E.P.S.) for the first quarter of 2014 were $0.82 compared to $1.39 for the first quarter of 2013. On a non-GAAP basis, including the adjustments in the attached reconciliation, E.P.S. were down 14% to $0.92 compared to $1.07 in the prior year quarter. A description and reconciliation of GAAP to non-GAAP E.P.S. is attached and can be found on the Company’s website at
under the caption Investors.
Commenting on the quarter, Douglas A. Berthiaume, Chairman, President, and Chief Executive Officer, said, “Sales in the quarter were below our expectations due primarily to a combination of slower growth in Asia and delays in the release of capital budgets, most significantly in the United States. Foreign currency translation and a higher operating tax rate negatively affected E.P.S in comparison to the 2013 first quarter’s results.”
As communicated in a prior press release, Waters Corporation will webcast its first quarter 2014 financial results conference call this morning, April 29, 2014 at 8:30 a.m. eastern time. To listen to the call, connect to
, choose “Investor Relations” and click on the “Live Webcast”. A replay will be available through May 6, 2014 at midnight eastern time, similarly by webcast and also by phone at 402-220-9786.
About Waters Corporation
For over 50 years, Waters Corporation (NYSE:
) 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.