WASHINGTON ― Industrial and healthcare conglomerate Danaher Corp reported a lower quarterly profit on Thursday amid costs for its Beckman Coulter acquisition, but results beat Wall Street forecasts.
Net earnings were $523.4 million, or 74 cents per share, compared with $646.4 million, or 95 cents a share, a year earlier.
Adjusted earnings from continuing operations came to 73 cents a share, beating average analyst estimates by 3 cents, according to Thomson Reuters I/B/E/S.
Revenue jumped 46 percent to $4.52 billion, mainly reflecting acquisitions, ahead of Wall Street forecasts of $4.46 billion.
The Washington-based maker of medical technology, dental tools and water treatment equipment did not immediately update its full-year profit forecast, but said the environment was likely to be more challenging. The company typically gives its profit outlook on its conference call before the start of trading.
Danaher has been both an active buyer and seller of businesses as it focuses its portfolio on higher-margin, faster-growing areas including life sciences, dental and medical technology. It paid $5.8 billion for medical diagnostics company Beckman Coulter in its biggest-ever deal.