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AR_08

AR_08

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Published by fwallstreet

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Categories:Types, Business/Law
Published by: fwallstreet on Apr 14, 2009
Copyright:Attribution Non-commercial

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05/11/2014

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2008 DANAHER
ANNuAl REpoRt
Z I D C U S T O
M
E R SP G E L O
M
J A C L HE R L S C L E
R
N
O K A I Z E
N
B D G C U RP P V R C J H B I A J EJ W E F O C U S
N
S Y HB E R P C R O
D
V H
N
OE M Y T V O L
M
F J LG Q U A L I T Y A L S D
N
B J S Z C
B O K E
M
R S L I S V D C
T RI
N N
O V A T I O
N
R S
 
R L S C L E
M
R
N
O A V X O
N
O A I Z E
N
B D G C U R Z P L C U RP V R C G H B I A J E C Z A A J EZ EF O C U S
N
S Y H K A Q S Y HO R E P R O
D
V H
N
O B X D H
N
OT Y K V O L
M
F J L L N Y F J LQ U A L I T Y A L S D J S P L S DB J S Z C
P O K E C V P O K ER S L I S V D C
T R Y I
T R
N N
O V A T I O
N
R S U Z H
N
R S
N
O B X D H
N
O T O
M
X R S H C FJ L L N Y F J L
M
J A C L H F O ZS D J S P L S D E
M
R
N
O A V X OK E C V P O K E B D G C U R Z P LA V X O
N
Z P L C U R A V X O
N
OR Z P L C C Z A A J E R Z P L C UE C Z A A K A Q S Y H E C Z A A JH K A Q S B X D H
N
O H K A Q S Y O B X D H L N Y F J L O B X D H
N
L L N Y F J S P L S D L L N Y F JE B D G C C V P F K E D J S P L S
 
04 05 06 07 08 04 05 06 07 08 04 05 06 07 08 04 05 06 07 08 04 05 06 07 08
$6,777
$7,871$9,466$12,697$11,026$1,090$1,248$1,500$1,741$1,869$2.27$2.72$3.44$3.95$3.72$1,019$1,189$1,531$1,859$1,699$57.41$55.78$72.44$87.74$56.61
Sales*Five-YearCompoundedAnnual GrowthRate 20% (in millions)Operating Income*Five-YearCompoundedAnnual GrowthRate 17% (in millions)EPS*Five-YearCompoundedAnnual GrowthRate 19%Operating Cash Flow*Five-YearCompoundedAnnual GrowthRate 17% (in millions)Year End Share PriceFive-YearCompoundedAnnual GrowthRate 4%
FIVE-YEAR COMPOUNDEDANNUAL GROWTH
*Fr Cnining oerains
 
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Financial Operating HigHligHts2008 2007
(dollars in thousands except per share data and number of associates)
Sales* $ 12,697,456 $ 11,025,917Operating prot* $ 1,869,477 $ 1,740,709Net earnings* $ 1,317,631 $ 1,213,998Earnings per share (diluted)* $ 3.95 $ 3.72Operating cash fow* $ 1,859,029 $ 1,699,308Capital expenditures* $ 193,783 $ 162,071Free cash fow
(operating cash fow less capital expenditures)
* $ 1,665,246 $ 1,537,237Number o associates 50,300 50,000Total assets $ 17,490,128 $ 17,471,935Total debt $ 2,619,329 $ 3,726,244Stockholders’ equity $ 9,808,562 $ 9,085,688Total capitalization (total debt plus stockholders’ equity) $ 12,427,891 $ 12,811,932
*From Continuing Operations
Dear Fellow Shareholder:
d    2008. d            ,   15%        10.5%. s         ,           .t  ,               -  .i            -         .
2008 Financial Highlights

w     $12.7 

w  $1.6     f

 w     f       126%,   17

     f   
w          $1.1   
w  17     ,     
Focus
t    ’   
Focus 
. i     ,  d b s (dbs)     “ ”         ’   . o         - ,       ,              . a  ,                “b  c” . s,           2008           2009  .

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