MILFORD, Mass. (AP) — MILFORD, Mass. (AP) — Waters Corp. (WAT) on Tuesday reported a loss of $72 million in its first quarter.
On a per-share basis, the Milford, Massachusetts-based company said it had a loss of 87 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $2.70 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.
The maker of products used in drug discovery and development posted revenue of $1.27 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $1.2 billion.
For the current quarter ending in June, Waters expects its per-share earnings to range from $2.95 to $3.05.
The company said it expects revenue in the range of $1.62 billion to $1.63 billion for the fiscal second quarter.
Waters expects full-year earnings in the range of $14.40 to $14.60 per share, with revenue ranging from $6.41 billion to $6.46 billion.
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