Danaher Corp Earnings Cheat Sheet: Double-Digit Growth Again

S&P 500 (NYSE:SPY) component Danaher Corporation (NYSE:DHR) reported its results for the second quarter. Danaher Corporation designs and manufactures professional, medical, industrial and consumer products.

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Danaher Earnings Cheat Sheet for the Second Quarter

Results: Net income for the conglomerates company rose to $648.8 million (65 cents per share) vs. $372.5 million (55 cents per share) in the same quarter a year earlier. This marks a rise of 74.2% from the year earlier quarter.

Revenue: Rose 16% to $3.71 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: DHR fell short of the mean analyst estimate of 67 cents per share. It beat the average revenue estimate of $3.53 billion.

Quoting Management: H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, “We’ve been very pleased by our strong start to 2011 and our team’s execution led to yet another quarter of solid core revenue and earnings growth. Our investments in new product development and go-to-market initiatives continued to drive organic growth and margin expansion and with our increasing exposure to higher growth emerging markets and the addition of Beckman Coulter to the portfolio, we believe we are well positioned to continue to outperform for the remainder of 2011 and beyond.”

Key Stats:

Last quarter marked the fifth consecutive quarter of gross margins expanding as the company’s gross margin expanded 2.8 percentage points to 52.4% from the year earlier quarter. Over that span, margins have grown on average 3.6 percentage points per quarter on a year-over-year basis.

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 43% and in the fourth quarter of the last fiscal year, the figure rose 77.5%.

Revenue has risen the past four quarters. Revenue increased 8.2% to $3.35 billion in the first quarter. The figure rose 15.2% in the fourth quarter of the last fiscal year from the year earlier and climbed 16% in the third quarter of the last fiscal year from the year-ago quarter.

The company fell short of forecasts after beating estimates in the previous two quarters. In the first quarter, it topped the mark by 4 cents, and in the fourth quarter of the last fiscal year, it was ahead by one cent.

Competitors to Watch: 3M Company (NYSE:MMM), Beckman Coulter, Inc. (NYSE:BEC), Agilent Technologies Inc. (NYSE:A), Young Innovations, Inc. (NASDAQ:YDNT), DENTSPLY Intl. Inc. (NASDAQ:XRAY), General Electric Company (NYSE:GE), ESCO Technologies Inc. (NYSE:ESE), Align Technology, Inc. (NASDAQ:ALGN), AMETEK, Inc. (NYSE:AME), and Thermo Fisher Scientific Inc. (NYSE:TMO).

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(Source: Xignite Financials)