Danaher Q4 Profit Climbs, Reaffirms FY14 View - Update

(RTTNews) - Diversified machinery maker Danaher Corp. (DHR) Tuesday reported a higher fourth-quarter profit, reflecting 6 percent growth in sales. The company issued earnings per share outlook for the first quarter, and reaffirmed its full year 2014 view.

Net earnings for the fourth quarter increased to $789.3 million or $1.11 per share from $630.4 million or $0.89 per share in the previous year.

Adjusted net earnings for the latest-quarter totaled $0.96 per share.

On average, 23 analysts polled by Thomson Reuters expected the company to earn $0.95 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter grew 6 percent to $5.27 billion from $4.98 billion in the prior-year quarter, and came above analysts' estimate of $5.20 billion. Core revenues increased 2.5 percent.

Looking ahead to the first quarter, the company expects GAAP net earnings per share to be in the range of $0.76 to $0.80. Analysts project first-quarter earnings of $0.82. per share.

The company reaffirmed its full year 2014 net earnings per share guidance of $3.60 to $3.75, with core revenue expected to grow between 2 and 4 percent.

Street currently is looking for fiscal year 2014 earnings of $3.77 per share, on annual revenues of $20.07 billion.

Lawrence Culp, Jr., president and chief executive officer of the company said, "...We believe the investments we have made to drive long term growth and productivity, combined with a robust balance sheet, and our optimism on the acquisition front leave us well positioned for outperformance in 2014."

DHR closed Monday's regular trading at $74.10 on the NYSE.