|Waters Corp. makes scientific instruments. (Istockphoto.Com)|
Scientific instrument maker Waters Corp. said its profit grew 18 percent in the second quarter, but the result missed expectations. The Milford company’s sales to government and academic institutions were weak, and orders from pharmaceutical customers slowed down. Waters earned $100.1 million, or $1.07 per share. That compared with $84.9 million, or 90 cents per share, a year earlier. Analysts had forecast profit of $1.15 per share. The company reported strong sales in Asia and said its chemical analysis business performed well.