Danaher may refer to:
Declan Danaher, English Rugby union player
Kevin Danaher (Caoimhín Ó Danachair), (1913–2002), author and prominent Irish folklorist
Kevin Danaher, Ph.D. in sociology, author of several books on Green Economy
Danaher Corporation, a company headquartered in Washington, D.C.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. The Company acquired Keithley Instruments, Inc. and the petroleum dispenser business of Larsen & Toubro, AB Sciex and Molecular Devices during the year ended December 31, 2010.
TEST & MEASUREMENT
The Test & Measurement segment is a provider of electronic measurement instruments, monitoring, management and optimization tools for communications networks and related services that are used in the design, development, manufacture, installation, deployment and operation of electronics equipment and communications networks and services. Customers for these products and services include manufacturers of electronic products; electrical engineers and technicians; research and development operations; operators of and service providers for local and wide area networks; and communications network equipment manufacturers. Sales for this segment during 2010, by geographic destination were: North America, 54%; Europe, 20%; Asia/Australia, 20%; and other regions, 6%. Test & Measurement segment manufacturing facilities are located in North America, Europe, and Asia.
The Fluke business designs, manufactures, and markets a variety of compact professional test tools, thermal imaging and calibration equipment for electrical, industrial, electronic and calibration applications. These test products measure voltage, current, resistance, power quality, frequency, pressure, temperature and air quality.
The Tektronix Instruments business offers general purpose test products and video test, measurement and monitoring products. Tektronix’s general purpose test products, including oscilloscopes, logic analyzers, signal sources and spectrum analyzers, are used to capture, display and analyze streams of electrical data. The Company sells these products into a variety of industries with significant electronic content, including the communications, computer, consumer electronics, education, military/aerospace and semiconductor industries. Tektronix’s video test products include waveform monitors, video signal generators, compressed digital video test products and other test and measurement equipment used to enhance a viewer’s video experience.
The Tektronix Communications and Fluke Networks businesses offer network management solutions, handheld and fixed diagnostic equipment and security solutions, as well as related installation and maintenance services, for a range of private network owner applications as well fixed and mobile communications systems, including wireless, coaxial, copper and fiber optics networks.
Matco Tools manufactures and distributes professional tools, toolboxes and automotive equipment through independent mobile distributors, who sell primarily to professional mechanics under the MATCO brand. Hennessy Industries is a North American full-line wheel service equipment manufacturer, providing brake lathes, vehicle lifts, tire changers, wheel balancers, and wheel weights under the AMMCO, BADA and COATS brands.
ENVIRONMENTAL
The Environmental segment provides products that help protect the Company’s water supply and air quality and serves two primary markets: water quality and retail/commercial petroleum. Sales for this segment during 2010, by geographic destination were: North America, 51%; Europe, 26%; Asia/Australia, 14%; and other regions, 9%.
Danaher’s water quality business is engaged in water quality analysis and treatment providing instrumentation and disinfection systems to help analyze and manage the quality of ultra pure, potable and waste water in residential, commercial and industrial applications. The water quality operations design, manufacture and market a range of analytical instruments, related consumables, and associated services that detect and measure chemical, physical, and microbiological parameters in ultra pure, potable and waste water as well as groundwater and ocean bodies; ultraviolet disinfection systems, which disinfect billions of gallons of municipal, industrial and consumer water every day in more than 35 countries, and industrial water treatment solutions, including chemical treatment solutions intended to address corrosion, scaling and biological growth problems in boiler, cooling water and industrial waste water applications as well as associated analytical services.
The products in the Retail/Commercial Petroleum business include environmental monitoring and leak detection systems, vapour recovery equipment, fuel dispensers, point-of-sale and secure electronic payment technologies for retail petroleum stations, submersible turbine pumps, and remote monitoring and outsourced fuel management services, including compliance services, fuel system maintenance, and inventory planning and supply chain support.
LIFE SCIENCES & DIAGNOSTICS
The Life Sciences businesses offer a range of research and clinical tools that are used by scientists to study cells, and the components of cells, to gain understanding of biological matters. Pharmaceutical and biotechnology companies, universities, medical schools and research institutions use these tools and this information to study the causes of disease, identify new therapies and test new drugs and vaccines. The Diagnostics businesses offer a range of analytical instruments, reagents, consumables, software and services that are used to diagnose disease, make treatment decisions and monitor patients in hospitals and other critical care settings. Customers of these businesses include hospitals, physician’s offices and reference laboratories. Sales for this segment during 2010 by geographic destination were: Europe, 36%; North America, 33%; Asia/Australia, 27%; and other regions, 4%.
The acute care diagnostics business is a provider of instruments and related consumables and services that are sold under the RADIOMETER brand and are used in both laboratory and point-of-care environments to measure parameters, including blood gases, electrolytes, metabolites and cardiac markers. The pathology diagnostics business, Leica Biosystems, is engaged in the anatomical pathology market, offering a range of instrumentation and related consumables. The products in this category include tissue embedding, processing and slicing (microtomes) instruments and related reagents and consumables; chemical and immuno-staining instruments, reagents, antibodies and consumables; slide coverslipping and slide/cassette marking instruments, and imaging instrumentation including slide scanners, microscopes, cameras and associated software. The Leica Microsystems business is a provider of professional microscopes designed to manipulate, preserve and capture images of, and enhance the user’s visualization of, microscopic structures. Leica Microsystems products include laser scanning (confocal) microscopes; compound microscopes and related equipment; surgical and other stereo microscopes; specimen preparation products for electron microscopy, and digital image capture and manipulation equipment. AB Sciex is a provider of high-end mass spectrometers. Molecular Devices is a supplier of high-performance bioanalytical measurement systems. Molecular Devices designs, manufactures and sells cellular analysis instrumentation, including microplate readers, automated cellular screening products and associated reagents, and imaging software.
DENTAL
The Dental segment is a provider of a range of equipment and consumables for the dental market, focused on developing, manufacturing and marketing solutions for dental professionals worldwide. Sales for this segment during 2010 by geographic destination were: North America, 47%; Europe, 36%; Asia/Australia, 11%; and other regions, 6%. This segment develops, manufactures and markets digital imaging and other visualization and magnification systems; air and electric handpieces and associated consumables; treatment units; impression, bonding and restorative materials; endodontic systems and related consumables; infection control products; orthodontic bracket systems and lab products, and implant systems. Manufacturing facilities are located in Europe, North America and South America. Sales are primarily made through independent distributors.
INDUSTRIAL TECHNOLOGIES
Industrial Technologies segment manufactures products and sub-systems that are incorporated by customers and systems integrators into production and packaging lines, as well as incorporated by original equipment manufacturers (OEMs) into various end-products. Many of the businesses also provide services to support their products, including helping customers integrate and install the products and helping ensure product uptime. Sales for this segment during 2010, by geographic destination were: North America, 50%; Europe, 30%; Asia/Australia, 14%; and other regions, 6%. Danaher’s product identification business is a provider of coding and marking systems, fluids, and accessories for the product identification industry. It designs, manufactures, and markets a variety of equipment used to print bar codes, date codes, lot codes, and other information on primary and secondary packaging. The sensors and controls products include instruments that monitor, sense and control discrete manufacturing variables, such as temperature, position, quantity, level, flow, and time. Aerospace and defense business designs, manufactures, and markets a variety of aircraft and defense equipment, including energetic material systems; submarine periscopes and related sensors; smoke detection and fire suppression systems; electronic security systems; electrical power generation systems, and linear actuators. The Motion business provides standard and custom motors, drives, controls, and mechanical components (such as ball screws, linear bearings, clutches/brakes, and linear actuators).
Transportation, accounting for 29 percent of Danaher's sales in 1991, included such leading brand names as Hennessy/Ammco (producing wheel balancers, tire changers, brake repair lathes), Jacobs Brake (producing engine retarders for heavy diesel trucks), and Fayette Tubular Products for car air-conditioning components.
Danaher's reorganization and streamlining contributed to its continued record sales, growth, and development of new products. In 1991 Sears, Roebuck & Co. selected Danaher as its only source for the manufacture of Sears mechanics' hand tools. Danaher was already marketing the Jacob Engine Brake diesel engine retarders in Japan, and, in 1991, Danaher acquired Normond/CMS, the leading manufacturer and marketer in Great Britain of environmental products. Danaher was already the leading supplier of hand tools to the National Automotive Parts Association.
The recession of the late 1980s and early 1990s affected Danaher, though not severely. Facilities were consolidated and some restructuring occurred (the firms Dynapar and Veeder-Root were combined into Danaher Controls, for instance, to eliminate duplicate services), but net sales of &Dollar;832 million in 1991 were only one percent below the previous year, and in 1992, sales increased significantly to &Dollar;897 million, the best year in the company's history for per share earnings. Chief Executive Officer George Sherman attributed the relatively mild effects of the recession to the company's investment in capital spending and in research and development at a time when most other firms practiced a timid "wait and see" policy.
With the worst of the recession over by 1993, Danaher's fortunes seemed secure. In part this was because of increasingly stringent environmental regulations and the growing demand for such environmental products as underground storage tank monitoring devices and fuel pump computers. This was already Danaher's fastest growing segment of business. Medical technology will probably be another increasingly important area in the company's future. International markets also continued to grow in importance. Under the presidency of George Sherman, Danaher's international sales were rising significantly, to just over 10 percent of total sales, and market analysts predict that the percentage will double by the year 2000.
Principal Subsidiaries: Danaher Controls; Danaher Tool Group; Fayette Tubular Products; Hennessy Industries, Inc.; Holo-Krome Co.; A. L. Hyde Co.; Iseli Co.; Jacobs Brake Manufacturing Co.; Jacobs Chuck Manufacturing Co.; Matco Tools; Partlow Corp.; QualiTROL Corp.; Veeder-Root Co.
OVERALL
Beta: 0.87
Market Cap (Mil.): $36,702.40
Shares Outstanding (Mil.): 664.06
Annual Dividend: 0.08
Yield (%): 0.14
FINANCIALS
DHR Industry Sector
P/E (TTM): 19.70 18.56 17.03
EPS (TTM): 55.50 -- --
ROI: 10.43 5.49 3.24
ROE: 14.43 6.82 5.80
Statistics:
Public Company
Incorporated: 1984
Sales: &Dollar;955.5 million
Employees: 7,000
Stock Exchanges: New York Pacific
SICs: 3714 Motor Vehicle Parts & Accessories; 3011 Tires & Inner Tubes; 3824 Fluid Meters & Counting Devices
Name Age Since Current Position
Rales, Steven 60 1984 Chairman of the Board
Culp, H. Lawrence 48 2001 President, Chief Executive Officer, Director
Comas, Daniel 47 2005 Chief Financial Officer, Executive Vice President
Rales, Mitchell 54 1990 Chairman of the Executive Committee, Director
Lico, James 45 2005 Executive Vice President
Joyce, Thomas 50 2006 Executive Vice President
Daniel, William 46 2008 Executive Vice President
Ditkoff, James 64 2002 Senior Vice President - Finance and Tax
Lutz, Robert 53 2010 Senior Vice President, Chief Accounting Officer
Graham, Jonathan 50 2006 Senior Vice President, General Counsel
Raskas, Daniel 44 2010 Senior Vice President - Corporate Development
van Duijnhoven, Henk 2011 Senior Vice President
Caplin, Mortimer 94 1990 Independent Director
Ehrlich, Donald 73 1985 Independent Director
Lohr, Walter 67 1983 Independent Director
Spoon, Alan 59 1999 Independent Director
Schwieters, John 71 2003 Independent Director
Hefner, Linda 51 2005 Independent Director
Zerhouni, Elias 59 2009 Independent Director
Address:
1250 24th ST. N.W., Suite 800
Washington,
DC
20037
United States
Declan Danaher, English Rugby union player
Kevin Danaher (Caoimhín Ó Danachair), (1913–2002), author and prominent Irish folklorist
Kevin Danaher, Ph.D. in sociology, author of several books on Green Economy
Danaher Corporation, a company headquartered in Washington, D.C.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. The Company acquired Keithley Instruments, Inc. and the petroleum dispenser business of Larsen & Toubro, AB Sciex and Molecular Devices during the year ended December 31, 2010.
TEST & MEASUREMENT
The Test & Measurement segment is a provider of electronic measurement instruments, monitoring, management and optimization tools for communications networks and related services that are used in the design, development, manufacture, installation, deployment and operation of electronics equipment and communications networks and services. Customers for these products and services include manufacturers of electronic products; electrical engineers and technicians; research and development operations; operators of and service providers for local and wide area networks; and communications network equipment manufacturers. Sales for this segment during 2010, by geographic destination were: North America, 54%; Europe, 20%; Asia/Australia, 20%; and other regions, 6%. Test & Measurement segment manufacturing facilities are located in North America, Europe, and Asia.
The Fluke business designs, manufactures, and markets a variety of compact professional test tools, thermal imaging and calibration equipment for electrical, industrial, electronic and calibration applications. These test products measure voltage, current, resistance, power quality, frequency, pressure, temperature and air quality.
The Tektronix Instruments business offers general purpose test products and video test, measurement and monitoring products. Tektronix’s general purpose test products, including oscilloscopes, logic analyzers, signal sources and spectrum analyzers, are used to capture, display and analyze streams of electrical data. The Company sells these products into a variety of industries with significant electronic content, including the communications, computer, consumer electronics, education, military/aerospace and semiconductor industries. Tektronix’s video test products include waveform monitors, video signal generators, compressed digital video test products and other test and measurement equipment used to enhance a viewer’s video experience.
The Tektronix Communications and Fluke Networks businesses offer network management solutions, handheld and fixed diagnostic equipment and security solutions, as well as related installation and maintenance services, for a range of private network owner applications as well fixed and mobile communications systems, including wireless, coaxial, copper and fiber optics networks.
Matco Tools manufactures and distributes professional tools, toolboxes and automotive equipment through independent mobile distributors, who sell primarily to professional mechanics under the MATCO brand. Hennessy Industries is a North American full-line wheel service equipment manufacturer, providing brake lathes, vehicle lifts, tire changers, wheel balancers, and wheel weights under the AMMCO, BADA and COATS brands.
ENVIRONMENTAL
The Environmental segment provides products that help protect the Company’s water supply and air quality and serves two primary markets: water quality and retail/commercial petroleum. Sales for this segment during 2010, by geographic destination were: North America, 51%; Europe, 26%; Asia/Australia, 14%; and other regions, 9%.
Danaher’s water quality business is engaged in water quality analysis and treatment providing instrumentation and disinfection systems to help analyze and manage the quality of ultra pure, potable and waste water in residential, commercial and industrial applications. The water quality operations design, manufacture and market a range of analytical instruments, related consumables, and associated services that detect and measure chemical, physical, and microbiological parameters in ultra pure, potable and waste water as well as groundwater and ocean bodies; ultraviolet disinfection systems, which disinfect billions of gallons of municipal, industrial and consumer water every day in more than 35 countries, and industrial water treatment solutions, including chemical treatment solutions intended to address corrosion, scaling and biological growth problems in boiler, cooling water and industrial waste water applications as well as associated analytical services.
The products in the Retail/Commercial Petroleum business include environmental monitoring and leak detection systems, vapour recovery equipment, fuel dispensers, point-of-sale and secure electronic payment technologies for retail petroleum stations, submersible turbine pumps, and remote monitoring and outsourced fuel management services, including compliance services, fuel system maintenance, and inventory planning and supply chain support.
LIFE SCIENCES & DIAGNOSTICS
The Life Sciences businesses offer a range of research and clinical tools that are used by scientists to study cells, and the components of cells, to gain understanding of biological matters. Pharmaceutical and biotechnology companies, universities, medical schools and research institutions use these tools and this information to study the causes of disease, identify new therapies and test new drugs and vaccines. The Diagnostics businesses offer a range of analytical instruments, reagents, consumables, software and services that are used to diagnose disease, make treatment decisions and monitor patients in hospitals and other critical care settings. Customers of these businesses include hospitals, physician’s offices and reference laboratories. Sales for this segment during 2010 by geographic destination were: Europe, 36%; North America, 33%; Asia/Australia, 27%; and other regions, 4%.
The acute care diagnostics business is a provider of instruments and related consumables and services that are sold under the RADIOMETER brand and are used in both laboratory and point-of-care environments to measure parameters, including blood gases, electrolytes, metabolites and cardiac markers. The pathology diagnostics business, Leica Biosystems, is engaged in the anatomical pathology market, offering a range of instrumentation and related consumables. The products in this category include tissue embedding, processing and slicing (microtomes) instruments and related reagents and consumables; chemical and immuno-staining instruments, reagents, antibodies and consumables; slide coverslipping and slide/cassette marking instruments, and imaging instrumentation including slide scanners, microscopes, cameras and associated software. The Leica Microsystems business is a provider of professional microscopes designed to manipulate, preserve and capture images of, and enhance the user’s visualization of, microscopic structures. Leica Microsystems products include laser scanning (confocal) microscopes; compound microscopes and related equipment; surgical and other stereo microscopes; specimen preparation products for electron microscopy, and digital image capture and manipulation equipment. AB Sciex is a provider of high-end mass spectrometers. Molecular Devices is a supplier of high-performance bioanalytical measurement systems. Molecular Devices designs, manufactures and sells cellular analysis instrumentation, including microplate readers, automated cellular screening products and associated reagents, and imaging software.
DENTAL
The Dental segment is a provider of a range of equipment and consumables for the dental market, focused on developing, manufacturing and marketing solutions for dental professionals worldwide. Sales for this segment during 2010 by geographic destination were: North America, 47%; Europe, 36%; Asia/Australia, 11%; and other regions, 6%. This segment develops, manufactures and markets digital imaging and other visualization and magnification systems; air and electric handpieces and associated consumables; treatment units; impression, bonding and restorative materials; endodontic systems and related consumables; infection control products; orthodontic bracket systems and lab products, and implant systems. Manufacturing facilities are located in Europe, North America and South America. Sales are primarily made through independent distributors.
INDUSTRIAL TECHNOLOGIES
Industrial Technologies segment manufactures products and sub-systems that are incorporated by customers and systems integrators into production and packaging lines, as well as incorporated by original equipment manufacturers (OEMs) into various end-products. Many of the businesses also provide services to support their products, including helping customers integrate and install the products and helping ensure product uptime. Sales for this segment during 2010, by geographic destination were: North America, 50%; Europe, 30%; Asia/Australia, 14%; and other regions, 6%. Danaher’s product identification business is a provider of coding and marking systems, fluids, and accessories for the product identification industry. It designs, manufactures, and markets a variety of equipment used to print bar codes, date codes, lot codes, and other information on primary and secondary packaging. The sensors and controls products include instruments that monitor, sense and control discrete manufacturing variables, such as temperature, position, quantity, level, flow, and time. Aerospace and defense business designs, manufactures, and markets a variety of aircraft and defense equipment, including energetic material systems; submarine periscopes and related sensors; smoke detection and fire suppression systems; electronic security systems; electrical power generation systems, and linear actuators. The Motion business provides standard and custom motors, drives, controls, and mechanical components (such as ball screws, linear bearings, clutches/brakes, and linear actuators).
Transportation, accounting for 29 percent of Danaher's sales in 1991, included such leading brand names as Hennessy/Ammco (producing wheel balancers, tire changers, brake repair lathes), Jacobs Brake (producing engine retarders for heavy diesel trucks), and Fayette Tubular Products for car air-conditioning components.
Danaher's reorganization and streamlining contributed to its continued record sales, growth, and development of new products. In 1991 Sears, Roebuck & Co. selected Danaher as its only source for the manufacture of Sears mechanics' hand tools. Danaher was already marketing the Jacob Engine Brake diesel engine retarders in Japan, and, in 1991, Danaher acquired Normond/CMS, the leading manufacturer and marketer in Great Britain of environmental products. Danaher was already the leading supplier of hand tools to the National Automotive Parts Association.
The recession of the late 1980s and early 1990s affected Danaher, though not severely. Facilities were consolidated and some restructuring occurred (the firms Dynapar and Veeder-Root were combined into Danaher Controls, for instance, to eliminate duplicate services), but net sales of &Dollar;832 million in 1991 were only one percent below the previous year, and in 1992, sales increased significantly to &Dollar;897 million, the best year in the company's history for per share earnings. Chief Executive Officer George Sherman attributed the relatively mild effects of the recession to the company's investment in capital spending and in research and development at a time when most other firms practiced a timid "wait and see" policy.
With the worst of the recession over by 1993, Danaher's fortunes seemed secure. In part this was because of increasingly stringent environmental regulations and the growing demand for such environmental products as underground storage tank monitoring devices and fuel pump computers. This was already Danaher's fastest growing segment of business. Medical technology will probably be another increasingly important area in the company's future. International markets also continued to grow in importance. Under the presidency of George Sherman, Danaher's international sales were rising significantly, to just over 10 percent of total sales, and market analysts predict that the percentage will double by the year 2000.
Principal Subsidiaries: Danaher Controls; Danaher Tool Group; Fayette Tubular Products; Hennessy Industries, Inc.; Holo-Krome Co.; A. L. Hyde Co.; Iseli Co.; Jacobs Brake Manufacturing Co.; Jacobs Chuck Manufacturing Co.; Matco Tools; Partlow Corp.; QualiTROL Corp.; Veeder-Root Co.
OVERALL
Beta: 0.87
Market Cap (Mil.): $36,702.40
Shares Outstanding (Mil.): 664.06
Annual Dividend: 0.08
Yield (%): 0.14
FINANCIALS
DHR Industry Sector
P/E (TTM): 19.70 18.56 17.03
EPS (TTM): 55.50 -- --
ROI: 10.43 5.49 3.24
ROE: 14.43 6.82 5.80
Statistics:
Public Company
Incorporated: 1984
Sales: &Dollar;955.5 million
Employees: 7,000
Stock Exchanges: New York Pacific
SICs: 3714 Motor Vehicle Parts & Accessories; 3011 Tires & Inner Tubes; 3824 Fluid Meters & Counting Devices
Name Age Since Current Position
Rales, Steven 60 1984 Chairman of the Board
Culp, H. Lawrence 48 2001 President, Chief Executive Officer, Director
Comas, Daniel 47 2005 Chief Financial Officer, Executive Vice President
Rales, Mitchell 54 1990 Chairman of the Executive Committee, Director
Lico, James 45 2005 Executive Vice President
Joyce, Thomas 50 2006 Executive Vice President
Daniel, William 46 2008 Executive Vice President
Ditkoff, James 64 2002 Senior Vice President - Finance and Tax
Lutz, Robert 53 2010 Senior Vice President, Chief Accounting Officer
Graham, Jonathan 50 2006 Senior Vice President, General Counsel
Raskas, Daniel 44 2010 Senior Vice President - Corporate Development
van Duijnhoven, Henk 2011 Senior Vice President
Caplin, Mortimer 94 1990 Independent Director
Ehrlich, Donald 73 1985 Independent Director
Lohr, Walter 67 1983 Independent Director
Spoon, Alan 59 1999 Independent Director
Schwieters, John 71 2003 Independent Director
Hefner, Linda 51 2005 Independent Director
Zerhouni, Elias 59 2009 Independent Director
Address:
1250 24th ST. N.W., Suite 800
Washington,
DC
20037
United States