Medical device and environmental technology provider Danaher Corp. (NYSE: DHR – $103.43) reported net income of $856.6 million and – excluding the impact of the new tax law and other one-time items – the company earned $1.19 a share in the fourth period compared to $1.05 in the previous final quarter, a 13.5% increase. Analysts polled had expected adjusted earnings of $1.16 a share. Revenue increased 11% to $5.1 billion, more than the $5 billion analysts had expected. Diagnostics sales jumped more than 13%, while sales in the company’s environmental and life sciences units rose around 12%. Dental sales increased the least, by 3%.
The company guided for the first quarter of 2018 and anticipates that adjusted earnings per share will be in the range of $0.90 to $0.93, close to Street estimates. For the full year 2018, management anticipates adjusted diluted net earnings per share to be in the vicinity of $4.25 to $4.35, a bit below where analysts have targeted the range. The shares are trading at an all-time high, but the three to five-year capital appreciation potential continues to provide appeal, and the small but growing dividend, yielding 0.54%, adds to the company’s total return prospects.