Medical Device

- Danaher Corporation (NYSE: DHR) (the "Company") announced today that it expects first quarter 2021 core revenue growth to be above the high-end of the Company's previously communicated guidance range.

For the quarter ended April 2, 2021 , the Company expects revenue growth to be approximately 57.0% and non-GAAP core revenue growth including Cytiva to be approximately 29.0%. The better-than-expected performance was broad-based across the portfolio, with particular strength in Life Sciences and Diagnostics.

As previously announced, Danaher will hold its earnings conference call for the first quarter 2021 on Thursday, April 22, 2021 at 8:00 a.m. ET .

ABOUT DANAHER
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher's globally diverse team of approximately 69,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life's Potential . For more information, please visit www.danaher.com .

NON-GAAP MEASURES
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, as applicable, and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.

FORWARD LOOKING STATEMENTS
Statements in this release that are not strictly historical, including the statements regarding the Company's expected financial performance for the first quarter of 2021 and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the highly uncertain and unpredictable severity, magnitude and duration of the COVID-19 pandemic (and the related governmental, business and community responses thereto) on our business, results of operations and financial condition, the impact of our debt obligations (including the debt incurred to finance the acquisition of Cytiva) on our operations and liquidity, deterioration of or instability in the economy, the markets we serve and the financial markets (including as a result of the COVID-19 pandemic), uncertainties relating to U.S. laws or policies, including potential changes in U.S. trade policies and tariffs and the reaction of other countries thereto, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including rules relating to off-label marketing and other regulations relating to medical devices and the health care industry), the results of our clinical trials and perceptions thereof, our ability to effectively address cost reductions and other changes in the health care industry, our ability to successfully identify and consummate appropriate acquisitions and strategic investments and successfully complete divestitures and other dispositions, our ability to integrate the businesses we acquire and achieve the anticipated benefits of such acquisitions, contingent liabilities and other risks relating to acquisitions, investments, strategic relationships and divestitures (including tax-related and other contingent liabilities relating to past and future IPOs, split-offs or spin-offs), security breaches or other disruptions of our information technology systems or violations of data privacy laws, the impact of our restructuring activities on our ability to grow, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, changes in tax laws applicable to multinational companies, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, the rights of the United States government to use, disclose and license certain intellectual property we license if we fail to commercialize it, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, our relationships with and the performance of our channel partners, uncertainties relating to collaboration arrangements with third-parties, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, the impact of deregulation on demand for our products and services, labor matters, international economic, political, legal, compliance, social and business factors (including the impact of the United Kingdom's separation from the EU and uncertainties relating to such separation), disruptions relating to man-made and natural disasters (including pandemics such as COVID-19) and pension plan costs.  Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2020 Annual Report on Form 10-K. These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.

Core Sales Growth, Core Sales Growth Including Cytiva by Segment and Base Business Core Sales Growth



% Change Three-Month Period Ended April 2, 2021 vs. Comparable 2020 Period




Segments

All numbers set forth below are based on preliminary
financial information and are therefore approximations

Total Company


Life Sciences


Diagnostics


Environmental &
Applied Solutions

Total sales growth (GAAP)

57.0%


114.0%


33.0%


6.5%

Impact of:








Acquisitions/divestitures

(34.5)%


(90.5)%


0.0%


(0.5)%

Currency exchange rates

(3.5)%


(4.0)%


(3.0)%


(2.5)%

Core sales growth (non-GAAP)

19.0%


19.5%


30.0%


3.5%

Impact of Cytiva sales growth (net of divested product lines)

10.0%


21.0%





Core sales growth including Cytiva (non-GAAP)

29.0%


40.5%













Impact of COVID-related tailwinds

(High-teens)%







Base business core sales growth (non-GAAP)

High-single digit/
low-double digit %







Statement Regarding Non-GAAP Measures

Each of the non-GAAP measures set forth in this file should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.  Management believes that these measures provide useful information to investors by offering additional ways of viewing Danaher Corporation's ("Danaher" or the "Company") results that, when reconciled to the corresponding GAAP measure, help our investors to identify underlying growth trends in our business and compare our sales performance with prior and future periods and to our peers.

In addition to presenting core sales, we also present core sales on a basis that includes sales attributable to Cytiva (formerly the Biopharma Business of General Electric Company's ("GE") Life Sciences business), which Danaher acquired from GE on March 31 , 2020.  Historically Danaher has calculated core sales solely on a basis that excludes sales from acquired businesses recorded prior to the first anniversary of the acquisition.  However, given Cytiva's significant size and historical core sales growth rate, in each case compared to Danaher's existing businesses, management believes it is appropriate to also present core sales on a basis that includes Cytiva sales.  Management believes this presentation provides useful information to investors by demonstrating the impact Cytiva has on the Company's current growth profile, rather than waiting to demonstrate such impact 12 months after the acquisition when Cytiva would normally have been included in Danaher's core sales calculation.  Danaher calculates period-to-period core sales growth including Cytiva by adding to the baseline period sales Cytiva's historical sales from such period (when it was owned by GE, as applicable), net of the sales of the Company product lines divested in 2020 to obtain regulatory approval to acquire Cytiva ("Cytiva sales") and also adding the Cytiva sales to the current period.

Management uses these non-GAAP measures to measure the Company's operating and financial performance, and uses core sales as a performance measure in the Company's executive compensation program.

With respect to the items we exclude from these non-GAAP measures, (1) we exclude the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions (other than Cytiva, in the case of core sales including Cytiva) and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult.

Cision View original content: http://www.prnewswire.com/news-releases/danaher-provides-update-on-first-quarter-2021-financial-performance-301267407.html

SOURCE Danaher Corporation

News Provided by PR Newswire via QuoteMedia

Medtronic to announce financial results for its fourth quarter and full fiscal year 2022

Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced that it will report financial results for its fourth quarter and full fiscal year 2022 on Thursday, May 26, 2022 . A news release will be issued at approximately 5:45 a.m. Central Daylight Time (CDT) and will be available at https:news.medtronic.com . The news release will include summary financial information for the company's fourth quarter and full fiscal year 2022, which ended on Friday, April 29, 2022 .

Medtronic will host a video webcast at 7:00 a.m. CDT on Thursday , May 26, 2022, to discuss financial results for its fourth quarter and full fiscal year 2022. The webcast can be accessed at https://investorrelations.medtronic.com .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

New Late-Breaking Data Highlight Abbott Structural Heart Transcatheter Valve Therapies

  • Data presented at EuroPCR 2022 reinforce the impact of Abbott's minimally invasive heart devices on patient outcomes and quality of life
  • Findings demonstrate TriClip™ transcatheter edge-to-edge (TEER) repair is effective at reducing tricuspid regurgitation across a broad range of anatomies
  • One-year outcomes for Navitor™ transcatheter aortic valve implantation (TAVI) system show the safety and effectiveness of this therapy and durable performance of the sealing cuff in minimizing paravalvular leak for patients with severe aortic stenosis

Abbott (NYSE: ABT) today announced two late-breaking data presentations highlighting both TriClip™, a first-of-its kind minimally invasive tricuspid heart valve repair device, and Navitor™, the company's latest-generation transcatheter aortic valve implantation (TAVI) system. The company also showcased new data for MitraClip™ and Amplatzer™ Amulet™, two key components of the company's industry-leading structural heart portfolio.

All data were presented at EuroPCR, the annual meeting of the European Association of Percutaneous Cardiovascular Interventions, held in Paris from May 17-20, 2022 .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Thermo Fisher Scientific Declares Quarterly Dividend

Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that on May 18, 2022, its Board of Directors authorized a quarterly cash dividend of $0.30 per common share, payable on July 15, 2022, to shareholders of record as of June 15, 2022.

About Thermo Fisher Scientific

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Premier Health Reports FY2022 Second Quarter Results

Premier Health Reports FY2022 Second Quarter Results

Premier Health of America Inc. (TSXV: PHA ) (the " Corporation "), a leading Canadian Healthtech company, announces it has filed its Condensed Interim Consolidated Financial Statements and Management Discussion and Analysis for its second quarter ended March 31, 2022.

Summary

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Salix Pharmaceuticals To Share New Data At Digestive Disease Week® 2022

XIFAXAN® (rifaximin), TRULANCE® (plecanatide) and PLENVU ® Research Posters Will Be Presented

Bausch Health Companies Inc. (NYSETSX: BHC) ("Bausch Health") and its gastroenterology business, Salix Pharmaceuticals, ("Salix"), one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases and disorders, today announced seven posters on behalf of XIFAXAN® (rifaximin), TRULANCE® (plecanatide) and PLENVU® (polyethylene glycol 3350, sodium ascorbate, sodium sulfate, ascorbic acid, sodium chloride and potassium chloride for oral solution), will be shared at Digestive Disease Week® (DDW) 2022 which is being held virtually and in-person in San Diego, Calif. from May 21-24, 2022 . The posters will be accessible on DDW's ePoster's website beginning Saturday, May 21, 2022 .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

EuroPCR: Medtronic renal denervation system shows better blood pressure control with significantly more time in target range

Medtronic adds to SPYRAL HTN Global Clinical Program with late breaking clinical data for SPYRAL HTN-ON MED and GSR-DEFINE

Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced data showing the benefits of the Symplicity Blood Pressure Procedure with the Symplicity Spyral™ Renal Denervation (RDN) system on achieving target blood pressure level ranges. As part of the SPYRAL HTN Global Clinical Program, three-year data from SPYRAL HTN-ON MED and GSR-DEFINE were presented at EuroPCR 2022 as late-breaking clinical trials on May 17, 2022.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×