Danaher Reports 80 Percent Jump in Quarterly Profit
From the Associated Press
Danaher, a manufacturing conglomerate whose products include dental instruments and Sears' Craftsman tools, said Thursday its third-quarter earnings jumped 80 percent on a lower-than-expected tax rate and a one-time business sale gain.
The District-based company earned $483.7 million, or $1.48 per share, compared with $268.1 million, or 83 cents per share, in the year-ago quarter. Adjusted earnings per share from continuing operations were $1.01.
Revenue grew 13.5 percent to $2.73 billion, from $2.41 billion in the prior-year period.
Analysts were expecting a profit of 97 cents per share on revenue of $2.71 billion, according to a poll by Thomson Financial.
The company said its tax rate was 23.6 percent for the period, compared to an expected rate of 27 percent, which boosted earnings by 5 cents per share. The company also reported a one-time gain from the sale of its Power Quality business.
Danaher's combined core business revenue grew by 5 percent for the quarter.
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