In the quarter, the effect of foreign currency translation reduced sales growth by 3%. On a GAAP basis, earnings per diluted share (E.P.S.) for the first quarter were $1.39 compared to $0.98 for the first quarter of 2012. On a non-GAAP basis, E.P.S. increased 7% to $1.07 compared to $1.00 in the prior year quarter. A description and reconciliation of GAAP to non-GAAP E.P.S. can be found on the Company’s website at http://www.waters.com under the caption Investors.
Commenting on the quarter, Douglas A. Berthiaume, Chairman, President, and Chief Executive Officer, said, “Constant currency sales growth was in line with our expectations and generally stronger than in recent quarters. We are encouraged by demand trends for new instrument systems, especially in China and India, and feel that positive business momentum across our major markets is sustainable.”