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 chelsey.dulaney@wsj.com
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