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Waters Corp. Issues Outlook; Announces $4 Bln Share Repurchase Authorization

Waters Corp. (WAT) announced it expects full-year 2019 constant currency sales growth in the range of 4% to 6%. The company also expects full-year 2019 non-GAAP earnings per fully diluted share in the range of $9.20 to $9.45.

Waters Corp. expects first quarter constant currency sales growth in the range of 4% to 6%. The company also expects first quarter non-GAAP earnings per fully diluted share in the range of $1.65 to $1.75.

For the fourth-quarter, on a non-GAAP basis, EPS increased 14% to $2.87, compared to $2.51 for the fourth quarter of 2017. Sales were $715 million, a 4% increase as reported, compared to sales of $687 million for the fourth quarter of 2017. Foreign currency translation negatively impacted sales growth by approximately 1% for the quarter.

Waters Corp. also announced that its Board authorized a new share repurchase program, which authorizes the purchase of up to $4 billion of the company's common stock over a two-year period and replaces the pre-existing program.

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