Waters 4Q profit up 5 pct on international sales

Associated Press

MILFORD -- Analytical instrument maker Waters Corp. said today that its fiscal fourth-quarter profit rose 5 percent as a weaker US dollar drove the value of international sales.

Profit rose to $104.1 million, or $1.08 per share, from $99.4 million, or $1.01 per share, during the same period a year prior. Revenue rose 2.5 percent to $428.8 million from $418.3 million.

Excluding charges, the company said it earned $1.12 per share. Analysts polled by Thomson Reuters expected profit of $1.09 per share on revenue of $435.8 million. The fiscal 2009 fourth-quarter and full year both ended on Dec. 31.

The company said foreign currency differences increased sales by about 4 percent. Without the difference, sales would have fallen 1 percent. Also, the company had no litigation expenses during the current quarter, compared with $6.5 million a year ago.

For the full year, the company earned $323.3 million, or $3.34 per share, up from profit of $322.5 million, or $3.21 per share in 2008. Revenue fell to just under $1.5 billion from $1.58 billion. Shares of the company declined 69 cents to $58.54 in afternoon trading. The stock has traded between $30 and $63.09 over the last 52 weeks.