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Danaher Corp. Message Board

  • bluecheese4u bluecheese4u Jul 19, 2012 9:33 AM Flag

    Danaher Reports Record Second Quarter 2012 Results


    Danaher Reports Record Second Quarter 2012 Results

    WASHINGTON, July 19, 2012 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) today announced results for the second quarter of 2012. All financial metrics in this release reflect only the Company's continuing operations unless otherwise noted.

    Net earnings for the quarter ended June 29, 2012 were $600.1 million, or $0.84 per share on a diluted basis, a 31% increase over diluted net earnings per share of $0.64 for the second quarter of 2011. Included in the current quarter results is a $0.03 benefit from a lower than anticipated income tax rate as well as a gain from resolving a contingency related to a prior asset disposal.

    Revenues for the quarter were $4.6 billion, 25% higher than the $3.6 billion reported for the second quarter of 2011. Core revenues increased 3.5% in the second quarter of 2012 compared to the second quarter of 2011.

    The Company anticipates that diluted net earnings per share for the quarter ending September 30, 2012 will be in the range of $0.74 to $0.79. The Company updated its full year 2012 diluted net earnings per share guidance to $3.19 to $3.26 from a previous range of $3.25 to $3.35, reflecting the anticipated negative currency impact from the recent strengthening of the US dollar, as well as the Company's plan to accelerate its restructuring activities, which is now anticipated to result in a full year cost of approximately $100 million. The mid-point of the Company's revised full year 2012 earnings per share guidance would result in approximately 14% year-on-year growth compared with the Company's adjusted earnings per share of $2.83 for 2011.

    H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, "We were pleased by the sequential improvement in core growth and our very strong margin and cash flow performance in the quarter. While the team continues to execute well, the worsening macroeconomic headlines suggest it's prudent to accelerate cost actions while maintaining our growth investments. We believe our focus on capturing market share while accelerating cost reductions, coupled with our optimism on the acquisition front, positions us well for the balance of 2012 and beyond."

    Danaher will discuss its results during its investor conference call today starting at 8:00 a.m. EDT.

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