|Letter to Shareholders|
|Our Success is Clear|
|Making the Most|
|Sum of Our Parts|
|The Deeper We Dig|
|Meet the Officers|
Were making the most out of the little things in life.
December 31, 2000 marked the closing of the companys 21st consecutive quarter of post-IPO double-digit earnings growth (excluding nonrecurring charges). We attribute this success to our 3,200 employees, averaging 10 years of experience with the company, who develop, manufacture, and market our products and provide our world-renowned customer service. Thanks to these dedicated people, weve achieved a level of expertise no other company in the industry can match. This expertise has allowed us to realize our vision of becoming the premiere analytical
chromatography, consumables, thermal analysis and mass spectrometry product company in the world. Over the past five years, weve successfully launched a series of new products including our market-leading Alliance® HPLC Systems, Oasis® Sample Preparation Products, Millennium®32 Chromatography Software and XTerra® Columns. In addition, we acquired TA Instruments®, Inc. and Micromass® UK, Limited, significantly expanding our mass spectrometry knowledge base and product line. Combine these accomplishments with plans to launch more new technologies in the years to come, and youve got the perfect formula for long-term financial growth.
Waters has enjoyed 21 consecutive quarters of post-IPO double-digit earnings growth. Maintaining operational excellence and profitable growth on a global scale are our top priorities. Over the past five years, weve made a number of strategic company acquisitions and have introduced many new products. As a result, weve successfully expanded our technology base and taken our profitability to entirely new heights.