Waters 3Q profit rises 6.2 pct on better demand

Waters 3rd-quarter profit rises 6.2 percent on better demand, lower interest expenses

• On 3:05 pm EDT, Tuesday October 27, 2009

MILFORD, Mass. (AP) -- Waters Corp.'s third-quarter profit rose 6.2 percent as demand stabilized and interest expenses eased, the maker of analytical instruments said Tuesday.

"Customer interest in our new products is encouraging and indicates that research-related spending may benefit our future results," said CEO Douglas Berthiaume.

Quarterly earnings climbed to $75.9 million, or 79 cents per share, compared with $71.5 million, or 71 cents per share, during the same period last year.

Excluding special items, adjusted earnings amounted to 81 cents per share.

Analysts polled by Thomson Reuters estimated a profit of 77 cents per share, on average. Analysts typically exclude one-time items.

Sales declined 3.2 percent to $374 million from $386.3 million in the prior-year period. Sales were hurt, in part, by foreign currency exchanges. Analysts' average forecast for revenue was $363.5 million.

Shares of the company rose $1.12, or 2 percent, to $57.44 in afternoon trading.