Danaher 4Q profit climbs more than 10 percent
WASHINGTON (AP) — Industrial and medical equipment maker Danaher Corp.'s fourth-quarter earnings climbed more than 10 percent, as growth in its existing businesses and acquisitions helped balance increases in costs.
The company, based in Washington, said Tuesday that it earned $630.4 million, or 89 cents per share, in the three months that ended Dec. 31. That compares to net income of $570.7 million, or 80 cents per share, in the final quarter of 2011.
Revenue climbed 5.5 percent to $4.98 billion.
Analysts expected, on average, earnings of 86 cents per share on $4.83 billion in revenue.
Danaher's products include microscopes, dental diagnostic equipment, transaction systems and network analyzers. It saw 3.5 percent growth in revenue from existing business and 3 percent growth from acquisitions, while foreign currency costs knocked revenue down 1 percent.
Selling, general and administrative expenses rose 9 percent to $1.41 billion. Research and development costs and income taxes were also up.
For the full year Danaher made $2.39 billion, or $3.36 per share, on $18.26 billion in revenue.
The company lowered its 2013 outlook to adjusted earnings of $3.32 to $3.47 per share from $3.40 to $3.55 per share, due to the divestiture of its interest in Apex Tool Group, which it expects to happen in the next two weeks.
Analysts estimated 2013 earnings at $3.53 per share.
Danaher shares rose 29 cents to $61 in afternoon trading.