Danaher Corporation announced today that net income for its third quarter ended September 28, 2001 was $87.7 million, 5% above the corresponding 2000 amount of $83.6 million. Earnings per share for the 2001 quarter were $.59 compared to $.58 for the 2000 quarter. Sales for the 2001 third quarter of $901.6 million were 8.6% below 2000 sales of $986.8.

Net earnings of $264.6 million, or $1.78 per share, for the nine month period ended September 28, 2001, were 12% and 9% higher, respectively, than the comparable 2000 net earnings of $236.4 million, or $1.63 per share. Year to date sales for 2001 of $2.86 billion were 4% higher than the $2.75 billion reported in 2000.

H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, "Despite the continuing softness in the industrial economy, we are able to report positive earnings growth. Net earnings for the quarter grew 5%, as a result of aggressive cost reduction and control. Third quarter sales performance in both business segments reflected the current weakness in the macro-economic environment. Process/Environmental Controls fell 7% while Tools and Components was down 11.5%. While we have great confidence in Danaher's long-term prospects, we will continue to maintain a strict cost focus while near term economic conditions remain uncertain."

Danaher Corporation is a leading manufacturer of Process/Environmental Controls and Tools and Components. (http://www.danaher.com/ )

Statements in this release that are not strictly historical may be forward-looking statements, which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth in the company's SEC filings.

                             DANAHER CORPORATION
                Consolidated Condensed Statements of Earnings
                   (000's omitted except per share amounts)
                                 (unaudited)


                            Quarter Ended            Nine Months Ended
                        Sept. 28,    Sept. 29,     Sept. 28,    Sept. 29,
                          2001          2000         2001          2000

  Net sales             $901,588      $986,786   $2,863,512    $2,745,408
  Operating costs
   and expenses:
    Cost of sales        547,630       599,814    1,757,328     1,678,957
    Selling, general
     and administrative
      expenses           190,481       227,265      617,690       631,887
    Goodwill and other
     amortization         15,837        12,863       45,823        33,426
    Total operating
     costs and
      expenses           753,948       839,942    2,420,841     2,344,270
  Operating profit       147,640       146,844      442,671       401,138
  Interest expense,
    net                    7,244        11,965       19,385        19,769
  Earnings before
    income taxes         140,396       134,879      423,286       381,369
  Income taxes            52,650        51,254      158,733       144,920

  Net Earnings          $ 87,746      $ 83,625     $264,553      $236,449

  Basic earnings
    per share              $ .61         $ .59        $1.84         $1.66

  Average shares
    outstanding          143,835       142,363      143,575       142,453

  Diluted earnings
    per share              $ .59         $ .58        $1.78         $1.63

  Average common stock
   and equivalent
    shares
     outstanding         152,198       145,290      151,769       145,301

A complete copy of Danaher's Form 10-Q financial report is available on the Company's website (http://www.danaher.com/ ).

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SOURCE: Danaher Corporation