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Danaher Reports Record First Quarter 2013 Results
Date:4/18/2013

WASHINGTON, April 18, 2013 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) today announced results for the first quarter of 2013. All financial metrics in this release reflect only the Company's continuing operations unless otherwise noted.

Net earnings for the quarter ended March 29, 2013 were $691.9 million, or $0.98 per share on a diluted basis, a 34% increase over diluted net earnings per share of $0.73 for the first quarter 2012.  As summarized in the attached reconciliation, first quarter 2013 earnings from continuing operations include gains from the sale of the Apex Tool Group LLC joint venture and discrete tax benefits. Excluding these gains, adjusted diluted earnings per share from continuing operations for the quarter ended March 29, 2013 were $0.75, a 2.5% increase over the comparable amount in the first quarter of 2012.

Sales for the 2013 first quarter were $4.4 billion, 3% higher than the $4.3 billion reported for the 2012 first quarter.  Core revenues increased 1.0% in the first quarter of 2013 compared to the first quarter of 2012.

The Company anticipates that GAAP diluted net earnings per share for the quarter ending June 28, 2013 will be in the range of $0.80 to $0.85.  The Company reaffirmed its full year 2013 adjusted diluted net earnings per share guidance of $3.32 to $3.47. 

H. Lawrence Culp, Jr. , President and Chief Executive Officer, stated, "Our modest expectations for global growth heading into this year have, so far, played out largely as anticipated.  The Danaher Business System continues to help us drive share gains, margins and cash flow in this low growth environment. We believe our solid recurring revenue base, the structural cost actions executed in 2012 and an attractive acquisition environment position Danaher well for the balance of 2013 a
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SOURCE Danaher Corporation
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