Danaher Corporation Announces Record First Quarter Results and Stock Repurchase Program
biz.yahoo.com
Thursday April 21, 6:00 am ET
WASHINGTON, April 21 /PRNewswire-FirstCall/ -- Danaher Corporation announced today that net earnings for its first quarter ended April 1, 2005 were $188 million, 30% higher than its 2004 first quarter net earnings of $145 million. Diluted earnings per share for the 2005 first quarter were $0.58, a 29% increase over the comparable $0.45 for the 2004 first quarter. Sales for the 2005 first quarter were $1,826 million, 18.5% higher than the $1,543 million reported for the 2004 first quarter.
H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, "We are again pleased to report record first quarter earnings. Despite tougher comparisons in the quarter, we are also pleased to report growth of 4% from existing businesses, also known as core revenues. Total sales growth for the quarter also includes acquisition growth of 13% and currency gains of 1.5%. Our operating cash flow of $312 million was another record first quarter and represents a 24% increase over the 2004 first quarter. We remain confident we are well positioned to deliver positive results for the balance of the year."
The Company also announced that its Board of Directors has authorized the repurchase of up to 10 million shares of the Company's common stock from time to time on the open market or in privately negotiated transactions. |
