Danaher Corp. announced results for the fourth quarter and full year 2013.
In a release on January 28, the Company noted that all financial metrics reflect only the Company's continuing operations and all references to increases in financial metrics reflect year-over-year changes, unless otherwise noted.
For the quarter ended December 31, 2013, net earnings were $789.3 million, or $1.11 per share on a diluted basis, a 25 percent increase over the $0.89 per share on a diluted basis for the fourth quarter 2012. On a non-GAAP basis, 2013 fourth quarter adjusted net earnings were $0.96 per share on a diluted basis. Revenues for the 2013 fourth quarter increased 6.0 percent to $5.27 billion with core revenues increasing 3.5 percent.
Net earnings for the full year 2013 were $2.7 billion, or $3.80 per share on a diluted basis, compared with $3.23 per share on a diluted basis for the full year 2012. On a non-GAAP basis, full year 2013 adjusted net earnings were $3.42 per share on a diluted basis. Revenues for the full year 2013 increased 4.5 percent to $19.1 billion with core revenues increasing 2.5 percent.
The Company anticipates that GAAP diluted net earnings per share for the quarter ending March 28, will be in the range of $0.76 to $0.80. The Company reaffirms full year 2014 diluted net earnings per share guidance of $3.60 to $3.75 with core revenue expected to grow between 2 percent and 4 percent.
H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, "Our strong finish in 2013 contributed to a solid year for Danaher overall. Our team's application of the Danaher Business System drove relative top line outperformance, solid core margin expansion, and excellent cash flow throughout the year. We believe the investments we have made to drive long term growth and productivity, combined with a robust balance sheet, and our optimism on the acquisition front leave us well positioned for outperformance in 2014."
Danaher designs, manufactures, and markets products and services to professional, medical, industrial, and commercial customers.
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