MILFORD, Mass. (AP) ? Net income at Waters Corp. dipped 2 percent in the third quarter as the weak global economy and stronger dollar cut into sales at the scientific instrument maker.
Sales fell 1 percent compared to a year ago, the company said Tuesday. Demand from pharmaceutical customers were steady and sales in Asia were strong, and if the effects of currency exchange is excluded its sales improved by about 2 percent. The U.S. dollar has grown stronger relative to other currencies like the euro because of the sluggish global economy.
Net income declined to $99.1 million from $101.3 million. Because the company has fewer shares on the market than it did a year ago, its per-share income rose to $1.12 from $1.10. Excluding one-time items, Waters earned $1.18 per share in the most recent quarter. Revenue fell to $450 million from $454.5 million.
Analysts were forecasting net income of $1.18 per share and $450.7 million in revenue, according to FactSet.
Waters had about 88.5 million shares on the market during the third quarter, down from 90.7 million a year ago. Its stock closed at $81.06 Monday and has traded between $70.88 and $94.47 in the last 12 months.
Source: http://news.yahoo.com/waters-3q-income-declines-sales-slip-114719217--finance.html
underworld awakening dog the bounty hunter tacoma narrows bridge weather nyc open marriage department of justice doj
No comments:
Post a Comment