Waters Corp. reports 177% increase in profits for first quarter
Photo/Grant Welker
Waters Corp.'s Milford headquarters
Milford life sciences company Waters Corp. reported $148.1 million in profits for the company’s first quarter of 2021, according to an earnings report released Wednesday.
That’s a 177% increase from the same quarter in 2020, when the company reported $53.6 million in net income.
The company in particular saw a great increase in sales, which totaled $609 million, an increase of 31% compared to the $465 million the company reported for the first quarter of 2020
“Thanks to solid execution and instrument sales growing in double-digits, we saw revenue increases across every region, with China’s sales more than doubling,” said Udit Batra, president and CEO of Waters Corp., in a statement. “Our transformation plan is well underway, with commercial momentum and a strong leadership team in place, we now turn towards developing a new strategy as we work to more closely align our portfolio with higher growth areas of the market."
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