Boston, MA 04/22/2014 (wallstreetpr) – Danaher Corporation (NYSE:DHR) is $52 billion business organization that manufactures and sells professional, commercial, medical and industrial products and service. The company reported profit and revenue growth in the quarter ended March 28.
Net earnings in the quarter were $579.7 million or 81 cents per share. That was up 8 percent over the net earnings realized in the same quarter a year earlier.
Sales in the first quarter were up 5 percent to $4.7 billion. The company generated sales of $4.4 billion in the same quarter a year earlier. The company’s core revenue in the first quarter increased 3.5 percent over the first quarter of 2013.
Performance outlook
The company expects net earnings in the second quarter to come in the range of 90 cents to 94 cents. Danaher Corporation (NYSE:DHR) expects 2014 full-year earnings to come between $3.60 and $3.75.
According to the company’s CEO H. Lawrence Culp, Jr., the record performance did not come by accident but as a testimony to the business acumen of the management team that he leads. He noted that the proper execution was helping the company to make higher sales, expand profit margins and curb expenses, therefore, resulting in better-than-expected growth, in revenue and profits.
The CEO believes the company is off to a great start in 2014 and expects the future to be even more rewarding as the company brings more products to the market and expands market share.
The company counts on the strength of Danaher Business System, acquisitions and robust balance sheet to support strong performance in 2014.
Change of guard
Danaher Corporation (NYSE:DHR) announced that CEO Culp will retire from his position early next year, but will stay on as an adviser. The company picked on the insider Thomas P. Joyce Jr. to take over from Mr. Culp as the company’s fourth chief executive in 30 years. Mr. Joyce has been with the company for about 25 years and is well positioned to maintain the company through the growth pathway.
