Waters Corp

By Deborah Gage  |  Posted 2003-10-01 Print this article Print

A manufacturer of scientific instruments forced a troubled British subsidiary to do things its way.

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Waters Corp. Base Case

Headquarters: 34 Maple St., Milford, MA 01757

Phone: (508) 478-2000

Business: World's largest manufacturer of instruments for High Performance Liquid Chromatography, Mass Spectrometry and Thermal Analysis—used for analyzing chemical and physical properties of proteins and many other substances.

Chief Information Officer: Paul Newton

Financials in 2002: Net sales were $890 million in 2002, up 3.5% from $859.2 million in 2001. Net income was $147.7 million, up 22.5% from $114.5 million in 2001.

Challenge: Regain market leadership after loss of patent lawsuit by developing and selling integrated chromatography/spectrometry product systems.

Baseline Goals:

  • Increase revenue growth, from 3.5% a year.

  • Maintain and improve earnings growth of over 15% per year.

  • Complete $400 million stock buyback to dispose of excess cash.

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    Senior Writer
    Based in Silicon Valley, Debbie was a founding member of Ziff Davis Media's Sm@rt Partner, where she developed investigative projects and wrote a column on start-ups. She has covered the high-tech industry since 1994 and has also worked for Minnesota Public Radio, covering state politics. She has written freelance op-ed pieces on public education for the San Jose Mercury News, and has also won several national awards for her work co-producing a documentary. She has a B.A. from Minnesota State University.


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