Waters Posts 'Disappointing' Q2
Milford-based Waters Corp. saw generally flat financial figures for its 2013 second quarter, compared with last year, the company reported today.
According to documents submitted to the federal Securities and Exchange Commission, sales at the laboratory instrument maker were nearly flat at $451.1 million, compared with $451.5 million last year.
Net income for the period ended June 29 was $89.3 million, down from $97.7 million last year, while earnings per share were $1.03, compared with $1.09 during the same period last year.
Year to date, sales were up 1 percent, to $881 million, Waters said. Meanwhile, earnings per share for the first half of the year were $2.42, up from $2.08 in 2012.
Chairman, President and CEO Douglas Berthiaume, said an unexpected slowdown in orders late in the quarter offset recurring revenue growth and “contributed to an overall disappointing performance in the second quarter.”
“We believe that underlying demand for instrument systems is, in fact, stronger than indicated by our weak sales growth in the quarter,” he said, “as order delays and a meaningful backlog build combined in late June to negatively affect our sales and earnings.”
Read more
Waters Q3 Profits Down, But Revenue Up
WBJ Web Partners
Most Recent
Most Recent
0 Comments