UPDATE: Danaher Posts Upbeat Q4 Revenue, But Lowers Earnings Forecast

reported upbeat results for the fourth quarter, but the company cut its earnings forecast for the full year. The Washington, District of Columbia-based company posted a quarterly profit of $662 million, or $0.92 per share, versus a year-ago profit of $789 million, or $1.11 per share. Excluding special items, Danaher's earnings increased to $1.04 per share from $0.96 per share. Its revenue rose 3% to $5.42 billion. However, analysts were expecting a profit of $1.03 per share on revenue of $5.39 billion. Thomas P Joyce, Jr., President and Chief Executive Officer, stated, "We delivered a strong finish to the year with core revenue growth exceeding our expectations. Our team executed well, using the tools of the Danaher Business System to gain market share while driving solid core margin expansion and record free cash flow generation. While cognizant of the current macroeconomic challenges, our investments in growth and productivity initiatives combined with a robust balance sheet give us confidence in our ability to outperform in 2015 and beyond." For the year, Danaher now expects earnings of $4.30 to $4.40 per share, versus earlier forecast of $4.35 to $4.45 per share. For the current quarter, the company projects earnings of $0.90 to $0.94 per share, versus analysts' estimates of $0.97 per share. Danaher shares fell 0.57% to close at $83.66 yesterday.