Danaher 3Q profit falls but beats Street views

Danaher posts 5.5 percent drop in 3rd-qtr profit but beats Wall Street estimates

• On 9:44 am EDT, Thursday October 22, 2009

WASHINGTON (AP) -- Danaher Corp. said Thursday its third-quarter profit fell 5.5 percent as tough economic conditions continued to depress its sales.

The diversified industrial company earned $351.4 million, or $1.05 per share, compared with $372 million, or $1.11 per share, a year earlier.

Excluding one-time gains and losses, the company posted an adjusted profit of $299 million, or 89 cents per share, down from an adjusted $381.6 million, or $1.14 per share.

Sales fell 14 percent to $2.75 billion from $3.21 billion.

The adjusted results beat Wall Street predictions. Analysts polled by Thomson Reuters expected a profit of 86 cents per share on $2.72 billion in revenue.

Danaher shares rose $1.80, or 2.6 percent, to $72.37 in morning trading.