UPDATE 1-Waters profit tops market, sees slow H1 EPS growth

* Q4 sales rose 3 pct to $429 mln vs est $435 mln

* Q4 adj EPS $1.12 vs est $1.10

* Sees Q1 adj EPS $0.75-$0.79 vs est $0.78

* Shares fall 2 pct

Jan 26 (BestGrowthStock) – Laboratory instrument maker Waters Corp
(WAT.N: ) reported quarterly profit above market expectations
helped by tighter cost control and new product launches, but
forecast a slow profit growth for the first half of 2010.

The company, which started shipping its newly introduced
mass spectrometer Synapt G2 in the fourth quarter, said it
expects sluggish performance by its industrial customers.

“From the customer segment perspective, we expect 2010 to
see sluggish performance from our industrial base, mid-single
digit growth from our pharmaceutical customers and near
double-digit growth from our government and academic customer
heavily affected by stimulus spending,” the company said on a
conference call.

Waters sees its first-quarter adjusted earnings of 75 cents
to 79 cents per share, compared with analyst estimates of 78
cents.

For the full year, it expects earnings to be in the range
of $3.70 to $3.85 per share.

For the fourth quarter ended Dec. 31, net income rose to
$104.1 million, or $1.08 per share, from $99.3 million, or
$1.01 per share. Excluding special items, the company earned
$1.12 a share.

Revenue rose 3 percent to $429 million.

Analysts on average had expected earnings of $1.10 per
share, on revenue of $435.8 million, according to Thomson
Reuters I/B/E/S.

Shares of the company were down 2 percent at $57.86 in
morning trade Tuesday on Nasdaq.

Stock News
(Reporting by Krishnakali Sengupta in Bangalore; Editing by
Gopakumar Warrier) (([email protected];
within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800;
Reuters Messaging:
[email protected]))

UPDATE 1-Waters profit tops market, sees slow H1 EPS growth