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Waters Corporation (WAT) has reported 15.44 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $174.38 million, or $2.15 a share in the quarter, compared with $151.05 million, or $1.83 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $179.01 million, or $2.21 a share compared with $161.22 million or $1.96 a share, a year ago. Revenue during the quarter grew 7.19 percent to $628.79 million from $586.61 million in the previous year period. Gross margin for the quarter contracted 885 basis points over the previous year period to 55.46 percent. Total expenses were 66.87 percent of quarterly revenues, down from 69.09 percent for the same period last year. This has led to an improvement of 223 basis points in operating margin to 33.13 percent.
Operating income for the quarter was $208.34 million, compared with $181.31 million in the previous year period.
However, the adjusted operating income for the quarter stood at $214.52 million compared to $194.11 million in the prior year period. At the same time, adjusted operating margin improved 103 basis points in the quarter to 34.12 percent from 33.09 percent in the last year period.
Commenting on the Company’s performance, Christopher J. O’Connell, President and Chief Executive Officer said, “I am pleased to report that our fourth quarter featured broad-based sales growth across our major markets, and balance across all product lines. The global Waters team executed well throughout 2016 and delivered strong financial results, while we continued to invest for future growth.”
Debt moves up
Waters Corporation has witnessed an increase in total debt over the last one year. It stood at $1,827.26 million as on Dec. 31, 2016, up 9.53 percent or $158.93 million from $1,668.34 million on Dec. 31, 2015. Total debt was 39.19 percent of total assets as on Dec. 31, 2016, compared with 39.08 percent on Dec. 31, 2015. Debt to equity ratio was at 0.79 as on Dec. 31, 2016, down from 0.81 as on Dec. 31, 2015. Interest coverage ratio improved to 36.19 for the quarter from 29.87 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
