Waters reports financial results

Waters reported fourth quarter 2008 sales of $418 million, a decrease of 4% from sales of $437 million in the fourth quarter of 2007. In the quarter, the effects of foreign currency translation were responsible for the reduced sales growth rate.

Waters reported fourth quarter 2008 sales of $418 million, a decrease of 4% from sales of $437 million in the fourth quarter of 2007. In the quarter, the effects of foreign currency translation were responsible for the reduced sales growth rate. Thus on a currency neutral basis, sales were approximately flat with the prior year's quarterly sales.

For the full year, sales for the company were $1.58 billion, an increase of 7% over sales of $1.47 billion in 2007. Foreign currency translation contributed 2% to the reported sales growth rate.

Commenting on the company's performance, Douglas Berthiaume, chairman, president and chief executive officer said, "Overall, 2008 was a very successful year for Waters. The challenges that we faced in the fourth quarter reflect the tougher economic environment that we are likely to continue to encounter in 2009. We are confident that we can manage our business effectively through this difficult period and we remain committed to new product research and customer support programmes to ensure our long term growth and continued strong market position."

Waters announced the fourth quarter 2008 financial results via a conference call. To listen to the call, connect to www.waters.com, choose "Investor Relations" and click on the "Live Webcast". A replay will be available until 3 February 2009.