Danaher 2011 Annual Report Download - page 6

Table of Contents
Danaher Corporation, originally DMG, Inc., was organized in 1969 as a Massachusetts real estate investment trust. In 1978 it was reorganized as a Florida
corporation under the name Diversified Mortgage Investors, Inc. (“DMI”) which in a second reorganization in 1980 became a subsidiary of a newly created
holding company named DMG, Inc. DMG, Inc. adopted the name Danaher in 1984 and was reincorporated as a Delaware corporation in 1986.
Sales in 2011 by geographic destination were: North America, 46% (including 42% in the U.S.); Europe, 28%; Asia/Australia, 20%; and other regions, 6%.
For additional information regarding sales by geography, please refer to Note 20 in the Consolidated Financial Statements included in this Annual Report.
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The table below describes the percentage of our total annual revenues attributable to each of our five segments over each of the last three years. For additional
information regarding sales, operating profit and identifiable assets by segment, please refer to Note 20 in the Consolidated Financial Statements included in
this Annual Report.
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   
Test & Measurement 21% 23% 21%
Environmental 18% 22% 23%
Life Sciences & Diagnostics 29% 18% 14%
Dental 13% 15% 16%
Industrial Technologies 19% 20% 20%
Businesses contributed to the Apex joint venture — 2% 6%
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Our Test & Measurement segment is a leading global provider of electronic measurement instruments and monitoring, management and optimization tools for
communications and enterprise networks and related services. The segment’s products 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 instruments; service, installation and maintenance professionals; manufacturers who design, develop, manufacture and install
network equipment; and service providers who implement, maintain and manage communications networks and services. Sales for this segment in 2011 by
geographic destination were: North America, 53%; Europe, 19%; Asia/Australia, 22%; and other regions, 6%.
We established our Test & Measurement business in 1998 through the acquisition of Fluke Corporation, and have expanded the business through numerous
subsequent acquisitions, including the acquisition of Tektronix, Inc. in 2007 and Keithley Instruments, Inc. in 2010. Our Test & Measurement segment
consists of the following lines of business.
Instruments
Our 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. Typical users of these products include electrical engineers, electricians, electronic technicians, medical technicians, and industrial
maintenance professionals. Our business also offers general purpose test products and video test, measurement and monitoring products used in electronic
design, manufacturing and advanced technology development. The business’ general purpose test products, including oscilloscopes, logic analyzers, signal
sources and spectrum analyzers, are used to capture, display and analyze streams of electrical data. We sell these products into a variety of industries with
significant electronic content, including the communications, computer, consumer electronics, education, military/aerospace and semiconductor industries.
Typical users include research and development engineers who use our general purpose test products to design, de-bug, monitor and validate the function and
performance of electronic components, subassemblies and end-products. Our 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. Typical users of these products
include video equipment manufacturers, content developers and traditional television broadcasters.
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Source: DANAHER CORP /DE/, 10-K, February 24, 2012 Powered by Morningstar® Document Research℠
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