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Danaher Reports Record Third Quarter 2015 Results

For the quarter ended October 2, 2015, non-GAAP adjusted diluted net earnings per share from continuing operations were $1.05, which reflects the adjustments identified in the attached reconciliation schedule. On a GAAP basis, diluted net earnings from continuing operations for the third quarter were $590 million, or $0.85 per diluted share. Revenue for the third quarter 2015 increased 6.5% to $5.0 billion with core revenues increasing 3.0%.

The Company anticipates that non-GAAP, adjusted diluted net earnings per share from continuing operations for the fourth quarter 2015 will be in the range of $1.25 to $1.29.

Thomas P. Joyce, Jr., President and Chief Executive Officer, stated, "Danaher had another good quarter with solid core revenue growth, free cash flow and earnings performance. In a challenging global macro environment, we've continued to enhance our businesses through organic growth initiatives and strategic acquisitions, most notably Pall. As we move forward, we believe the strength of our portfolio, combined with our team's steadfast execution through the Danaher Business System, will help us continue to deliver strong operating results and shareholder value."

Danaher will discuss its results during its quarterly investor conference call today starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the "Investors" section of Danaher's website,, under the subheading "Investor Events." A replay of the webcast will be available in the same section of Danaher's website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.

The conference call can be accessed by dialing 888-215-6894 within the U.S. or by dialing 913-312-1434 outside the U.S. a few minutes before the 8:00 a.m. ET start and telling the operator that you are dialing in for Danaher's investor conference call (access code 357158). A replay of the conference call will be available shortly after the conclusion of the call and until Thursday, October 29, 2015. The replay can be accessed by dialing 888-203-1112 within the U.S. or 719-457-0820 outside the U.S. with the access code 357158. In addition, presentation materials relating to Danaher's results have been posted to the "Investors" section of Danaher's website under the subheading "Events & Presentations."


Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Our family of world-class brands has leadership positions in some of the most demanding and attractive industries, including health care, environmental and industrial. The Company's globally diverse team of approximately 80,000 associates is united by a common culture and operating system, the Danaher Business System. In 2014, Danaher generated $19.9 billion in revenue and its market capitalization exceeded $60 billion. For more information please visit:

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. The reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures and other information relating to these measures are included in the supplemental reconciliation schedule attached.


Statements in this release that are not strictly historical, including the statements regarding the Company's anticipated adjusted diluted net earnings per share from continuing operations for the fourth quarter 2015, the anticipated impact from the Company's growth investments and strategic acquisitions, the Company's operating results and shareholder value, and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, deterioration of or instability in the economy, the markets we serve and the financial markets, the impact of our restructuring activities on our ability to grow, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our ability to successfully identify, consummate and integrate appropriate acquisitions and successfully complete divestitures and other dispositions, contingent liabilities relating to acquisitions and divestitures, our ability to integrate the recent acquisition of Pall Corporation and achieve the anticipated benefits of that transaction, our ability to successfully consummate the separation of Danaher into two public companies and realize the anticipated benefits of that transaction, our compliance with applicable laws and regulations (including regulations relating to medical devices and the healthcare industry) and changes in applicable laws and regulations, our ability to effectively address cost reductions and other...