Danaher Gives Rosy Earnings Outlook

By Chelsey Dulaney 

Danaher Corp. projected stronger-than-expected earnings for the coming year.

Ahead of an investor meeting, the Washington-based health-care equipment company said it expects to post $4.35 to $4.45 a share in earnings, excluding items, next year on core revenue growth of 3% to 4%. Analysts had been expecting $4.01 a share in earnings and 6% revenue growth to $21.06 billion.

The company also backed its earnings outlook for the current quarter.

The upbeat outlook comes at a time of major change for the company. In a sooner-than-expected move, Danaher in September appointed Thomas Joyce Jr., a long-term company executive, as chief executive to replace H. Lawrence Culp Jr., who had planned to retire next March.

Danaher is also pursuing a $2.1 billion deal to buy Swiss dental-implant firm Nobel Biocare Holding AG, a move that would make Danaher one of the largest players in the dental-care industry.

The company is also selling two of its businesses, Tektronix Communications and Fluke Networks, to information technology company NetScout Systems Inc. Under the deal, expected to close next year, Danaher will split or spin off the businesses into a unit that will then merge with NetScout.

In October, Danaher reported forecast-topping results in its September quarter, as profit rose 14% and revenue rose 4.3%.

Write to Chelsey Dulaney at [e-mail]

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