By Will Feuer
Danaher Corp. posted higher profit and revenue in the fourth quarter, boosted by strength in the company's life-sciences division.
The medical-and-diagnostics company posted a profit of $2.23 billion, or $2.99 a share, compared with $1.79 billion, or $2.39 a share, a year earlier.
Stripping out one-time items, including amortization of acquisition-related assets and tax adjustments, adjusted earnings came to $2.87 a share. Analysts polled by FactSet had been expecting adjusted earnings of $2.55 a share.
Revenue rose 2.5% to $8.37 billion, topping analyst expectations of $7.90 billion, according to FactSet. The company said adjusted core revenue, which strips out the effects of currency fluctuations, grew 7.5%.
Danaher's life-sciences division grew quarterly revenue by 8% from a year earlier, while diagnostics sales rose 3%. Environmental and applied solutions revenue increased 1%, while biotechnology revenue slipped 1%.
The company's overall operating margins expanded to 27.4% in the quarter from 26.4% in the same period a year earlier.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
01-24-23 0631ET