WASHINGTON, March 29 /PRNewswire-FirstCall/ -- Danaher Corporation (NYSE: DHR) announced that its President and Chief Executive Officer, H. Lawrence Culp, Jr., will comment today on the Company's first quarter 2010 outlook at a meeting with investors in Toronto, Ontario, Canada. Mr. Culp will communicate that the Company's first quarter 2010 adjusted diluted earnings per share is anticipated to be at or above $0.90. The Company had previously anticipated adjusted diluted earnings per share for the first quarter of 2010 to be at or above the high end of the range of $0.77 to $0.82.
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 Company's anticipated earnings per share performance for the first quarter of 2010, 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 within the meaning of the federal securities laws. 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 uncertainty in the economy and financial 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 and income tax liabilities, 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 2009 Annual Report on Form 10-K. 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 | ||||||
Reconciliation of GAAP to Non-GAAP Financial Measure | ||||||
For the Three Months Ending April 2, 2010 | ||||||
Previous Guidance | Current Guidance * | |||||
Forecasted Adjusted Diluted Earnings Per Share ** | $ 0.82 | $ 0.90 | ||||
AB SCIEX acquisition-related costs** | (0.09) | (0.09) | ||||
Forecasted Diluted Earnings Per Share (GAAP) | $ 0.73 | $ 0.81 | ||||
* | The Company believes it will be at or above the indicated guidance. | |||||
** | Forecasted adjusted diluted earnings per share is defined as diluted earnings per share per GAAP excluding (1) transaction costs associated with the acquisition of AB Sciex and Molecular Devices (expensed in accordance with the adoption of the new business combination accounting standard) and (2) fair value adjustments to acquisition-related inventory and deferred revenue balances in connection with such acquisition expected to be incurred in the first quarter of 2010. The first quarter 2010 AB SCIEX acquisition related costs are expected to be approximately $38 million on a pre-tax basis. The Company estimated the tax effect of the item identified in the reconciliation schedule above by applying the Company's overall estimated effective tax rate to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. | |||||
SOURCE Danaher Corporation
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