Industrial and healthcare company, Danaher Corporation(DHR) reported on Thursday a decline in profit, missing analysts expectations.
The Washington DC based company reported third quarter earnings of $548.7 million, or 77 cents a share, up 4.6% from last years Q3 earnings of $523.4 million, or 73 cents a share.
Reported revenue was $4.42 billion, down from $4.45 billion in last years third quarter. Revenue fell short from Thomson Reuters analysts estimate of $4.51 billion, or 79 cents a share.
The revenue miss was a result of currency fluctuations. The company reported increased sales in emerging markets, but a decline in the US and Western Europe. The company has decreased its forecast for the rest of 2012, stating that they will be spending more to restructure its operations.
DRH expects Q4 earnings in the range of 80 cents to 85 cents. Analysts are predicting earnings of 88 cents.
Danaher shares were down $2.10, or -3.74% during premarket trading Thursday.
The Bottom Line
Shares of Danaher Corporation (DHR) have a .18% dividend yield, based on last night’s closing stock price of $56.10. The stock has technical support in the $50-$52 price area. The shares are trading near all-time highs.
Danaher Corporation(DHR)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.