Waters reports year-on-year growth in second quarter of 2015

Waters has expressed satisfaction with the strong financial performance it has achieved during the second quarter of 2015.

Its net sales for the period came to $495 million (316.82 million pounds), up by three percent year over year, even despite foreign currency translation negatively impacting sales growth by seven percent.

On a GAAP basis, earnings per diluted share for the second quarter of 2015 were $1.27, compared to $1.13 for the second quarter of 2014. During the period, it was able to bring several new innovations to market, while maintaining good margins and cash flow.

For the first six months of 2015, sales for Waters came to $955 million, up by five percent compared to the same period last year.

Douglas Berthiaume, chairman, president and chief executive officer of Waters, said: "Our strong performance in the second quarter and first half of 2015 demonstrates the power of our technology-focused strategy and commitment to customer support."

Mr Berthiaume will be stepping down as president and chief executive this September, to be succeeded by Christopher O'Connell, while retaining his post as chairman.