Waters Reports on Financial Results

Waters Corporation reported fourth quarter 2013 sales of $565 million, an increase of 8% in comparison to sales of $522 million in the fourth quarter of 2012. Q4 saw sales grow at 10% before the effects of foreign currency translation which, on a GAAP basis, adjusted earnings per diluted share (E.P.S.) to $1.65 compared to $2.00 for the fourth quarter of 2012. On a non-GAAP basis, including the adjustments in the attached reconciliation, E.P.S. grew 7% to $1.70 from $1.59 in the final quarter of 2012.

For the full year, sales for the Company were $1.90 billion, an increase of 3% in comparison to sales of $1.84 billion in 2012, with foreign currency translation reducing sales growth by about 2%.

Commenting on the Company’s 2013 performance, Douglas Berthiaume, Chairman, President and Chief Executive Officer said, “A strong fourth quarter sales result brought our full-year 2013 constant currency sales growth to 5%. Through the year, the growth in our operating income was materially and adversely affected by foreign currency translation, principally the weaker Japanese yen. The strength in the fourth quarter of 2013 was broad based in terms of our key product lines and business segments and was highlighted by improved pharmaceutical demand accompanied by continued strength in global academic and industrial chemical end markets.”