Danaher 2011 Annual Report Download - page 5

Table of Contents
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Certain information included or incorporated by reference in this Annual Report, in other documents filed with or furnished by us to the SEC, in our press
releases or in our other communications through webcasts, conference calls and other presentations, may be deemed to be “forward-looking statements” within
the meaning of the federal securities laws. All statements other than historical factual information are forward-looking statements, including without limitation
statements regarding: projections of revenue, expenses, profit, profit margins, tax rates, tax provisions, cash flows, pension and benefit obligations and
funding requirements, our liquidity position or other financial measures; management’s plans and strategies for future operations, including statements
relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market
position, acquisitions and related synergies, divestitures, securities offerings, stock repurchases and executive compensation; growth, declines and other
trends in markets we sell into; the anticipated impact of adopting new accounting pronouncements; the anticipated outcome of outstanding claims, legal
proceedings, tax audits and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; general economic conditions;
assumptions underlying any of the foregoing; and any other statements that address events or developments that Danaher intends or believes will or may occur
in the future. Terminology such as “believe,” “anticipate,” “should,” “could,” “intend,” “plan,” “expects,” “estimates,” “projects,” “may,” “possible,”
“potential,” “forecast” and “positioned” and similar references to future periods are intended to identify forward-looking statements, although not all forward-
looking statements are accompanied by such words. These statements are based on assumptions and assessments made by our management in light of their
experience and perceptions of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These
forward-looking statements are subject to a number of risks and uncertainties, including but not limited to the risks and uncertainties set forth under “Item
1A. Risk Factors” in this Annual Report.
Forward-looking statements are not guarantees of future performance and actual results may differ materially from those envisaged by such forward-looking
statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Forward-looking statements speak only as of the date
of the report, document, press release, webcast, call or other presentation in which they are made. We do 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.
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Danaher Corporation (“Danaher,” “Company,” “we,” “us,” “our”) designs, manufactures and markets professional, medical, industrial and commercial
products and services, which are typically characterized by strong brand names, innovative technology and major market positions. Our research and
development, manufacturing, sales, distribution, service and administrative facilities are located in more than 50 countries. Our business consists of five
segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental; and Industrial Technologies. We strive to create shareholder value
through:
• delivering sales growth, excluding the impact of acquired businesses, in excess of the overall market growth for the types of products and services
we provide;
• upper quartile financial performance compared to our peer companies; and
• upper quartile cash flow generation from operations compared to our peer companies.
To accomplish these goals, we use a set of tools and processes, known as the DANAHER BUSINESS SYSTEM (“DBS”), which are designed to
continuously improve business performance in the critical areas of quality, delivery, cost and innovation. Within the DBS framework, we pursue a number of
ongoing strategic initiatives relating to idea generation, product development and commercialization, global sourcing of materials and services, manufacturing
improvement and sales and marketing.
To further these objectives we also acquire businesses that either strategically fit within our existing business portfolio or expand our portfolio into a new and
attractive business area. Given the rapid pace of technological development and the specialized expertise typical of our served markets, acquisitions also
provide us important access to new technologies and domain expertise. We believe there are many acquisition opportunities available within our target markets.
The extent to which we make and effectively integrate appropriate acquisitions will affect our overall growth and operating results. We also continually assess
the strategic fit of our existing businesses and may divest businesses that are deemed not to fit with our strategic plan or are not achieving the desired return on
investment.
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Source: DANAHER CORP /DE/, 10-K, February 24, 2012 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.