Waters Corp. Q2 Earnings Rise - Quick Facts

(RTTNews) - Waters Corp., (WAT), a maker of analytical instruments for laboratories, Tuesday reported a rise in its third-quarter earnings, as sales grew 8 percent year-over-year.

Net income for the quarter increased to $113. 5 million or $1.34 per share from $98.0 million or $1.14 per share last year. Excluding certain items, earnings totaled $1.38 per share.

On average, 17 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.29 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales rose to $493 million from $457 million a year ago, while analysts were looking for revenue of $486.58 million.

Commenting on the results, the company's CEO Douglas Berthiaume 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."