Waters Posts Larger Profit, Sales Dip For Q3
Milford-based Waters Corp. said its third quarter profit was $75.9 million compared to $71.5 million a year ago.
The laboratory equipment maker said its market began to stabilize during the quarter. Sales were $374 million compared to $386 million the prior year, a 3 percent decrease the company blamed, in part, on "adverse foreign currency translation."
For the first nine months of the year, Waters reported a profit of $219 million compared to $223 million last year.
Cost cutting efforts have kept the company's results close to last year's and it finished the quarter with $578 million in cash and equivalents compared to $429 million a year ago. The company's short-term debt increased from $36 million last year to $145 million at the end of the most recent quarter.
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