Danaher Earns 67 Cents a Share

A few weeks ago, Danaher (DHR) raised the lower end of its guidance. It turns out, the company was right!
Today, Danaher reported earnings of 67 cents a share, two cent more than Wall Street estimates.

Danaher earned $216 million, or 67 cents per share, compared with $188 million, or 58 cents per share, a year earlier.
Analysts on average expected 65 cents per share, according to Reuters Estimates, after the company said last week that results would exceed its earlier range of 61 cents to 64 cents. Danaher had previously raised its forecast in March.
The results included 2.5 cents per share in stock options expense, as well as a 1-cent tax-related benefit and a 1-cent gain for the sale of real estate.
Danaher, whose products range from Craftsman tools to gas station equipment and water treatment systems, said it saw broad strength across its businesses, and it was confident it would deliver positive results for the rest of the year.
Sales rose 17.5 percent to $2.14 billion, matching the estimate the company provided last week, when it announced its biggest-ever acquisition.

The company is trading lower today due to its conservative forecast for the rest of 2006. Danaher said that it expects to earn between 73 and 78 cents a share for the second quarter, and $3.07 per share to $3.17 a share for the year.
Wall Street was expecting 77 cents for the second quarter, and $3.13 for the year. I think the company is simply being cautious.

Posted by on April 20th, 2006 at 12:36 pm


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