WAT Q1 2016 Earnings Report — Waters Corporation Revenue & Financial Results | Market Cap Arena

Waters CorporationWAT

Q1 2016 Earnings

Reported May 6, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2016	Q4 2015	Q1 2015	QoQ Change	YoY Change
Revenue	$475M	—	—	—	—
Op. Income	$113M	—	—	—	—
Gross Margin	57.7%	—	—	—	—
Net Margin	19.8%	—	—	—	—
EPS (Diluted)	$1.15	—	—	—	—
Free Cash Flow	$135M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$475M
Cost of Revenue	$201M
GROSS PROFIT	$274M
R&D Expenses	$29M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$129M
Other Expenses	$3M
Operating Expenses	$161M
Cost & Expenses	$363M
OPERATING INCOME	$113M
Interest Income	$4M
Interest Expense	$10M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$107M
Income Tax Expense	$13M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$23M
EBIT	$117M
EBITDA	$140M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$475M
Cost of Revenue	$201M
GROSS PROFIT	$274M
R&D Expenses	$29M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$129M
Other Expenses	$3M
Operating Expenses	$161M
Cost & Expenses	$363M
OPERATING INCOME	$113M
Interest Income	$4M
Interest Expense	$10M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$107M
Income Tax Expense	$13M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$23M
EBIT	$117M
EBITDA	$140M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$94M
Depreciation & Amortization	$23M
Stock-Based Compensation	$16M
Deferred Income Tax	$4M
Other Non-Cash Items	$7M
Change in Working Capital	$23M
OPERATING CASH FLOW	$160M
Capital Expenditure	-$25M
Acquisitions (Net)	$0
Purchases of Investments	-$686M
Sales/Maturities of Investments	$512M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$198M
Net Debt Issuance	$50M
Common Stock Repurchased	-$95M
Common Dividends Paid	$0
Other Financing Activities	$6M
NET CASH FROM FINANCING	-$37M
FREE CASH FLOW	$135M
Net Change in Cash	-$71M

Balance Sheet

Item	Amount
Cash & Equivalents	$416M
Short-Term Investments	$2.1B
Net Receivables	$440M
Inventory	$287M
Other Current Assets	$79M
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$337M
Goodwill	$357M
Intangible Assets	$223M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$141M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$4.4B
Account Payables	$73M
Short-Term Debt	$125M
Deferred Revenue	$191M
Other Current Liabilities	$111M
TOTAL CURRENT LIABILITIES	$524M
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$149M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$2.3B
Common Stock	$2M
Additional Paid-In Capital	$1.5B
Retained Earnings	$5.0B
Treasury Stock	-$4.2B
Accum. Other Comp. Income	-$128M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$4.4B
Total Debt	$1.7B
Net Debt	$1.3B