Danaher Corp.
(DHR) reported first quarter 2010 earnings per share from continuing operations of 89 cents, exceeding the Zacks Consensus Estimate of 88 cents.
Quarterly sales stood at $3.1 billion, 17.5% higher than last year’s $2.6 billion. Core revenues increased 5.5% in the quarter, compared to the prior-year period. Core revenues exclude revenue from acquisitions, which have occurred less than a year ago, and also impact of currency translations.
The company continues to witness encouraging signs that the global economy is stabilizing and returning to growth as evidenced by its solid core revenue performance in the quarter. The company had an efficient execution, which led to very good cash flow and earnings performance during the quarter.
Danaher is a diversified technology company designing, manufacturing, and marketing innovative products and services, which are typically characterized by strong brand names, proprietary technology and major market positions.
From fire suppression systems and evacuation slide inflation to ejection seat subsystems and crew and passenger safety restraints, Danaher takes safety seriously and continues to enjoy a leading position in the aviation safety market.
The company’s growth depends in part on the timely development and commercialization, and customer acceptance, of new products and product enhancements based on technological innovation.
Danaher, originally DMG, Inc., was organized in 1969 as a Massachusetts real estate investment trust. In 1978 it was reorganized as a Florida corporation under the name Diversified Mortgage Investors, Inc. which in a second reorganization in 1980 became a subsidiary of a newly created holding company named DMG, Inc. It adopted the name Danaher in 1984 and was reincorporated as a Delaware corporation following the 1986 annual meeting of its shareholders. 

Danaher derives its sales from the design, manufacture and marketing of professional, medical, industrial, commercial and consumer products.
We currently have a Neutral recommendation on DHR.
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