Waters Corporation reported fourth-quarter 2018 non-GAAP earnings of $2.87 per share, edging past Zacks Consensus Estimate by 22 cents. The earnings are +14.3% higher compared to the same quarter a year ago.
Net sales of the Analytical laboratory instrument manufacturing company came in at $715.02 million, beating Zacks Consensus Estimate of $702.52 million. Net sales increased +4.1% year-over-year.
Major contributors to sales growth included the company’s TA product line, strong demand in Asia (especially in China), and solid performance in the pharmaceutical market.
For 2019, Waters expects its non-GAAP earnings to be in the range of $9.20-$9.45 per share. It projects net sales to grow between 4% and 6% on a constant currency basis.