Waters (WAT)

Q4 2010 Earnings Call

January 25, 2011 8:30 am ET


John Ornell - Chief Financial Officer, Principal Accounting Officer and Vice President of Finance & Administration

Arthur Caputo - Executive Vice President and President of the Waters Division

Douglas Berthiaume - Chairman, Chief Executive Officer and President


Derik De Bruin - UBS Investment Bank

Jonathan Groberg - Macquarie Research

Ross Muken - Deutsche Bank AG

Neha Sahni -

Peter Lawson - Mizuho Securities USA, Inc.

Stephen Unger - Lazard Capital Markets LLC

Tycho Peterson - JP Morgan Chase & Co

Quintin Lai - Robert W. Baird & Co. Incorporated

Paul Knight - Credit Agricole Securities (USA) Inc.

Daniel Leonard - Leerink Swann LLC

Sung Ji Nam - Gleacher & Company, Inc.

Isaac Ro - Goldman Sachs Group Inc.

Doug Schenkel - Cowen and Company, LLC

Jon Wood - Jefferies & Company, Inc.

Charles Butler - Barclays Capital

Amit Bhalla - Citigroup Inc



Good morning and welcome to the Waters Corp. Fourth Quarter 2010 Financial Results Conference Call. [Operator Instructions] I would like to introduce your host for today's conference, Mr. Doug Berthiaume, Chairman, President and Chief Executive Officer of Waters Corp. Sir, you may begin.

Douglas Berthiaume

Thank you. Good morning, and welcome to the Waters Corp. Fourth Quarter and Full-Year Financial Results Conference Call. With me on today's call is John Ornell, Waters' Chief Financial Officer; Art Caputo, the President of the Waters Division and Gene Cassis, the Vice President of Investor Relations.

And as is our normal practice, I will start with an overview of the business highlights, and John will follow with details on our financial results and then provide you with our outlook for the first quarter and for the full year 2011. But before we get going, I'd like John to cover the cautionary language.

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