WASHINGTON, Feb. 16 /PRNewswire-FirstCall/ -- Danaher Corporation (NYSE: DHR) announced that its President and Chief Executive Officer, H. Lawrence Culp, Jr., will comment tomorrow on the Company's first quarter outlook at the Barclays Capital Industrial Select Conference in Miami, FL. Mr. Culp will communicate that the company's adjusted earnings per share is anticipated to be at or above the high end of the previous announced range of $0.77 to $0.82.
Mr. Culp stated: "We've been encouraged by the strong order activity and continuing margin performance through the first part of the quarter. In addition to improving end markets, the closing of the AB SCIEX transaction combined with our growth investments and new product introductions positions us well for the long term."
The Company expects that the AB SCIEX transaction will be accretive in 2010 by between $0.05 - $0.07 per share, excluding the impact of fair value adjustments and transaction costs of approximately $0.15 per share.
Danaher (NYSE: DHR), based in Washington. D.C., is a diversified technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our portfolio of premier brands is among the most highly recognized in each of the markets we serve. Driven by strong core values and a foundation provided by the Danaher Business System, our 47,000 associates serve customers in more than 125 countries and generated $11.2 billion of revenue in 2009. For more information please visit our website: www.danaher.com.
Statements in this release that are not strictly historical, including the statements regarding order activity, margin improvement, improving end markets, the impact of the AB SCIEX acquisition, growth investments and new product introductions, and expectations for 2010 and future periods, and any other statements regarding events or developments that we believe or anticipate will or may occur in the future, may be "forward-looking" statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the current uncertainty in the global economy and credit markets, the impact of our restructuring activities on our ability to grow, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, our ability to successfully identify, consummate and integrate appropriate acquisitions, contingent liabilities relating to acquisitions, risks relating to potential impairment of goodwill and other long-lived assets, currency exchange rates, our compliance with applicable laws and regulations and changes in applicable laws and regulations, tax audits and changes in our tax rate, litigation and other contingent liabilities including intellectual property and environmental matters, risks relating to product defects and recalls, the impact of our debt obligations on our operations, pension plan costs, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, legislative health care reform and other changes in health care industry, labor matters, our relationships with and the performance of our channel partners, risks relating to man-made and natural disasters, our ability to achieve projected cost reductions and growth, and international economic, political, legal and business factors. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2008 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended October 2, 2009. These forward-looking statements speak only as of the date of this release and the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
Danaher Corporation
Supplemental Reconciliation of Forecasted Diluted Earnings Per Share
to Prior Guidance
For the Three Months Ended April 2, 2010 and Full Year 2010
Current Guidance
----------------
Previous
Guidance
Three Three Twelve
Months Months Months
Ended Ended Ended
April 2, April 2, December 31,
2010 2010 *** 2010 *
--------- --------- -------------
Low High Low High
---- ---- ----- --- ----
Forecasted Adjusted Diluted
Earnings Per Share Prior to AB
SCIEX acquisition-related
costs $0.77 $0.82 $0.82 $3.86 4.16
AB SCIEX acquisition-related
costs ** - - (0.09) (0.15) (0.15)
Forecasted Diluted Earnings Per
Share (GAAP) $0.77 $0.82 $0.73 $3.71 $4.01
===== ===== ===== ===== =====
* Based on the mid-point of a range of $0.05 to $0.07 accretion from
the acquisition before considering acquisition-related costs.
** Includes transaction costs associated with completion of the
acquisition (expensed in accordance with the adoption of the new
business combination accounting standard) and fair value adjustments
to acquisition-related inventory and deferred revenue balances
expected to be incurred in 2010 ("Acquisition Related Costs").
*** The Company believes it will be at or above the indicated guidance.
SOURCE Danaher Corporation
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