Waters reports strong financial results for third quarter of 2016

Waters has announced its financial results for the third quarter of 2016, during which it generated a sales total of $527 million (431.38 million pounds).

This represents a five percent year-on-year increase, while earnings per diluted share for the quarter were up by nine percent to $1.53.

Recurring revenues, combining service and chemistry consumables, were up by eight percent, or seven percent in constant currency terms, with instrument system sales up approximately three percent.

Its strong figures for the quarter were attributed to its robust performance in biopharmaceutical markets and key Asian geographies, as well as its steady growth in chemistry consumables and service products.

Christopher O'Connell, president and chief executive officer of Waters, said: "These drivers offset softer demand from our industrial, governmental and academic customers, and combined with disciplined expense management enabled us to deliver strong earnings-per-share growth."

For the first nine months of the year, the company has accumulated sales of $1.54 billion, up by six percent on the corresponding point last year.

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