Waters Q3 Revenues up 8 Percent
News Oct 21, 2014
In the quarter, the effect of foreign currency translation was neutral to sales growth. On a GAAP basis, earnings per diluted share (EPS) for the third quarter were $1.34 compared to $1.14 for the third quarter of 2013. On a non-GAAP basis, including the adjustments in the attached reconciliation, EPS increased 16% to $1.38 compared to $1.19 in the third quarter of 2013. A description and reconciliation of GAAP to non-GAAP EPS is attached and can be found on the Company’s website at http://www.waters.com under the caption Investors.
Through the first nine months of 2014, sales for the Company were $1.41 billion, up 5% compared with sales of$1.34 billion in the first nine months of 2013. The effect of foreign currency translation was neutral to sales growth for the first nine months. On a GAAP basis, EPS for the first nine months of 2014 were $3.29 compared to $3.56 for the comparable period in 2013. On a non-GAAP basis and including adjustments on the attached reconciliation, EPS were $3.51 in the first nine months of 2014 as compared to $3.34 in 2013.
Commenting on the quarter, Douglas A. Berthiaume, Chairman, President, and Chief Executive Officer, said, “Broad-based demand from pharmaceutical customers highlighted our strong organic revenue growth in the third quarter. In addition, improvements in margins contributed to solid mid-teens EPS growth.”
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