Earnings Report: Danaher Corp. Q2 Sales Rise 24% YoY (DHR)
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Danaher Corp. (NYSE:DHR) posted Q2 resultsbefore the opening bell Thursday morning, reporting GAAP net earnings of $372.5 million, or $0.55 per share; a 25% boost from GAAP net earnings of $0.44 per share from the year-ago period. Non-GAAP net earnings were $378.8 million, or $0.56 per share, as compared to the year-ago period's net earnings of $0.40 per share. Q2 sales were 24% higher than the year-ago period's $2.7 billion, at $3.3 billion this quarter. President and CEO Lawrence Culp, Jr. commented: "Our commitment over the last several years to organic growth investments, including new product development and go-to-market initiatives, combined with an improving macro environment allowed us to deliver outstanding core growth in the quarter. The quality of the growth is evident in both our year-over-year earnings performance and core margin expansion. Our performance year-to-date combined with the continued strength we see across our businesses reinforces our confidence in our ability to deliver positive results for the remainder of 2010." SmarTrend alerted subscribers to take profits in Danaher on May 20, 2010 at $39.46, since then the stock fell 3.8%. We are now watching for any positive developments that could result in a new uptrend signal. Danaher is currently below its 50-day moving average (MA) of $39.27 and should find support at its 200-day MA of $37.91. In the last five trading sessions, the 50-day MA has fallen 0.79% while the 200-day MA has risen 0.31 <b>...</b> |
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