Waters first-quarter sales increases 10% to $368 million

Waters Corporation (NYSE/WAT) reported first quarter 2010 sales of $368 million, an increase of 10% from sales of $333 million in the first quarter of 2009. In the quarter, foreign currency translation increased sales growth rate by 4% and, on a currency neutral basis, sales increased by 6% in comparison to the prior year's first quarter sales. On a GAAP basis, earnings per diluted share (E.P.S.) for the first quarter of 2010 were $0.79, compared to $0.75 for the first quarter of 2009. On a non-GAAP basis, including the adjustments in the attached reconciliation, E.P.S. grew 9% to $0.81 from $0.74 in the first quarter of 2009.

Commenting on the Company's performance, Douglas Berthiaume, Chairman, President and Chief Executive Officer said, "Strong demand for our new products and improving end-markets contributed to our sales growth in the first quarter. Shipments of our new instrument systems, including the Synapt™ G-2 and ACQUITY UPLC^® H-Class, ramped up nicely in the quarter while our TA Instruments sales returned to growth based on strong product positions and improving demand from industrial chemical customers."