Waters (WAT) Lowers Guidance
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Waters Corporation (NYSE: WAT) is revising its Q4 sales and non-GAAP EPS outlook due to weaker than expected orders for new instruments resulting from deterioration in global economic conditions.
Water previously had anticipated sales revenue of approximately $454 million, representing growth of 4% versus prior year, including a negative foreign currency translation impact of 2%. Current expectations are for sales revenue in a range of $410 million to $420 million, a decline of 4-6% versus prior year, including a negative foreign currency translation impact of approximately 4%. The Wall Street consensus is $449.8 million.
Quarterly non-GAAP E.P.S. that the Company had previously estimated at $1.08 - $1.12 per fully diluted share are now expected to be between $0.94 and $0.99 per fully diluted share. The Wall Street consensus is $1.08.
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