Danaher Profit Tops Analysts' Expectations
Washington-based Danaher Corporation, which makes everything from hand tools to fire suppression systems, posted a second-quarter profit of $311 million, or $0.96 per diluted share. That's down from the $314 million (or $0.98 a share) the company earned in the same quarter last year, but a bit better than what Wall Street was expecting.
Sales for the 2007 second quarter were $2.67 billion, up 13.5 percent from a year ago, according to the company.
Included in the second quarter 2007 diluted net earnings per share is a one-time gain of approximately $0.02 per share related to the collection of proceeds related to a litigation matter. Excluding that one-time gain, the company's earnings beat analysts expectations of $0.93 by a penny a share, according to Thomson Financial.
"We are very pleased with our results this quarter," said Danaher CEO H. Lawrence Culp, Jr.
For the first six months of 2007, profit rose 5.5 percent to $566 million, or $1.74 a share. Sales for the first six months of 2007 were $5.23 billion, up 16.5 from $4.49 billion for the first six months of 2006.
-- Thomas Heath
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