Danaher reports Q1 sales up, profit down

Danaher announced Thursday that first-quarter sales rose 7 percent year-over-year to $4.2 billion, beating analyst expectations of $4.17 billion. Quarterly profit fell to $506 million from $758 million in the year-ago period, the company said.

CEO Thomas Joyce remarked that "during the first quarter, our two most recent large acquisitions, Pall and Cepheid, performed very well." He added that "we feel well-positioned to benefit from a number of compelling market drivers across the portfolio."

Looking ahead, Danaher said it continues to expect 2017 earnings per share to be between $3.85 and $3.95, while analysts are forecasting earnings of $3.95 per share for the year.

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