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Milford-based Waters Corp., a manufacturer of lab equipment and medical products used by the pharmaceutical industry, saw its shares reach a record high after it reported better-than-expected fourth-quarter earnings and sales. Waters said 2013 sales reached $565 million, an increase of 8 percent over 2012’s $522 million. Adjusted earnings of $1.70 a share came in ahead of the $1.61 expected from analysts. For the full year, sales were $1.90 billion, an increase of 3 percent in comparison to sales of $1.84 billion in 2012.