Waters Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Waters Corp. (WAT) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $102.20 million, or $1.72 per share. This compares with $140.92 million, or $2.38 per share, in last year's first quarter.

Excluding items, Waters Corp. reported adjusted earnings of $131.08 million or $2.21 per share for the period.

Analysts on average had expected the company to earn $2.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.0% to $636.84 million from $684.67 million last year.

Waters Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $102.20 Mln. vs. $140.92 Mln. last year. -EPS (Q1): $1.72 vs. $2.38 last year. -Revenue (Q1): $636.84 Mln vs. $684.67 Mln last year.

-Guidance: Next quarter EPS guidance: $2.50 to $2.60 Full year EPS guidance: $11.75 to $12.05