UPDATE 2-Danaher beats Street expectations, raises outlook
* Q1 shr from cont ops $0.61 vs. $0.57 expected
* Q1 sales $3.35 bln vs. $3.32 bln expected
* Sees adjusted 2011 EPS $2.65 to $2.75 (Rewrites, adds outlook)
NEW YORK, April 21 (Reuters) - Industrial conglomerate Danaher Corp (DHR.N) reported a higher-than-expected quarterly profit on Thursday and raised its full-year profit forecast, citing growth in Brazil and China.
Danaher posted net earnings of $429.4 million, or 63 cents per share, compared with $300.2 million, or 45 cents per share a year earlier. Profit from continuing operations came to 61 cents a share.
Analysts on average expected earnings of 57 cents per share, according to Thomson Reuters I/B/E/S.
Revenue was up 11 percent to $3.35 billion, slightly above Wall Street forecasts.
The company said its sales in emerging markets grew 20 percent in the quarter and expected places like China and Brazil to continue to lead the global economy.
It raised its estimate of adjusted 2011 profits to a range of $2.65 to $2.75 from its earlier range of $2.55 to $2.70 per share. Wall Street was looking for profit of $2.69 a share.
Danaher's industrial technology segment, which makes product identification equipment and other devices, increased sales 16 percent. Its test and measurement business, which serves military and high-tech markets, reported a 28 percent sales rise, with acquisitions adding 12 points of that growth. Both segment increased profit margins by about 2 percentage points.
Danaher gets about half of its sales from North America, about 29 percent from Europe and the rest from Asia and the rest of the world, according to KeyBanc Capital Markets.
The Washington-based company has been both an active buyer and seller of businesses as it focuses its portfolio on higher-margin, faster-growing areas including life sciences and dental and medical technology.
Danaher last month won U.S. antitrust permission for its $5.8 billion acquisition of medical diagnostics company Beckman Coulter Inc BEC.N, its biggest-ever deal. Medical technology will account for almost half total company revenues once that deal closes. (Reporting by Nick Zieminski; Editing by Lisa Von Ahn, Dave Zimmerman)
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