Danaher Reports Record Third Quarter 2012 Results


WASHINGTON, Oct. 18, 2012 /PRNewswire/ -- Danaher Corporation (NYSE:DHR) today announced results for the third 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 September 28, 2012 were $548.7 million, or $0.77 per share on a diluted basis, a 5.5% increase over third quarter 2011 GAAP diluted net earnings per share of $0.73 and a 7% increase over third quarter 2011 non-GAAP adjusted diluted net earnings per share of $0.72. Revenues for the quarter declined slightly to $4.4 billion compared to the third quarter of 2011. Core revenues increased 1% in the third quarter of 2012 compared to the third quarter of 2011.

The Company anticipates that GAAP diluted net earnings per share for the quarter ending December 31, 2012 will be in the range of $0.80 to $0.85. The Company revised its full year 2012 GAAP diluted net earnings per share guidance of $3.19 to $3.26 to a new range of $3.14 to $3.19. Additionally, the Company is increasing its previously announced 2012 anticipated restructuring efforts from approximately $100 million to approximately $120 million. The mid-point of the Company's revised full year 2012 GAAP diluted net earnings per share guidance would result in approximately 14.5% year-on-year growth compared with the Company's 2011 GAAP diluted net earnings per share of $2.77, and 12% year-on-year growth compared with the Company's 2011 non-GAAP adjusted diluted net earnings per share of $2.83.

H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, "Our team continued to execute well with solid margin expansion and cash flow performance in the quarter. Despite the macroeconomic pressures, we are successfully protecting our organic investments while remaining active on the acquisition front. We believe our strong recurring revenue base and efforts to reduce our structural costs, coupled with margin expansion opportunities present in our newer businesses position 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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