Waters hails solid start to 2017 in first quarter report

Waters has expressed satisfaction with its financial performance for the first quarter of 2017, having delivered continued growth during the period.

The company's sales for the three months came to $498 million (385.45 million pounds), representing a year-on-year increase of five percent, or six percent in constant currency terms.

Strong sales growth of eight percent from the firm's pharmaceutical market was achieved during the quarter, in addition to five percent sales growth from the industrial sector, which helped to offset a decline in its governmental and academic markets.

In geographic terms, a 14 percent rise in Asian sales and a three percent uptick in Europe compensated for the two percent decline seen in the Americas.

Christopher O'Connell, president and chief executive officer of Waters, said: "We are pleased with our solid start to 2017, highlighted by another quarter of strong organic sales and earnings per share growth."

The company is one of the world's most successful specialty measurement businesses, with around 7,000 employees worldwide and direct operations in 31 countries.

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