Danaher Corporation announced today that net earnings for its third quarter ended September 27, 2002 were $116.0 million, 32% above the corresponding 2001 period earnings of $87.7 million. Diluted earnings per share for the 2002 quarter were $0.74, an increase of 25% over the $0.59 reported for the 2001 third quarter. In accordance with the adoption of Statement of Financial Accounting Standards 142 (SFAS 142), the Company stopped amortizing goodwill as of January 1, 2002. Excluding goodwill amortization from the third quarter of 2001, earnings per share would have been $0.69. The third quarter of 2002 included a $1.8 million after-tax gain ($0.01 per share) from the sale of real estate. Sales for the 2002 third quarter were $1,151.7 million, 28% higher than the $901.6 million for the quarter ended September 28, 2001.

For the nine month period ended September 27, 2002, net earnings, before the effect of a change in accounting principle in connection with the Company's adoption of SFAS 142, were $302.4 million, up 14% from the $264.6 million reported in 2001. Diluted earnings per share for the 2002 nine month period of $1.95 (before the effect of the change in accounting principle related to SFAS 142) increased 10% from the $1.78 in 2001. Excluding goodwill amortization from the 2001 nine month period, earnings per share would have been $2.04. Net earnings for the 2002 nine month period, after the effect of a first quarter $173.8 million one-time non-cash charge for impairment of goodwill, were $128.7 million. Sales of $3,302.3 million for the 2002 nine month period were 15% higher than the $2,863.5 million reported in 2001.

H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, "We are pleased with our third quarter results. Total sales for the quarter grew 28%, resulting primarily from our first quarter acquisitions of Videojet, Gilbarco and Viridor. Continued softness in several of our Process/Environmental Controls businesses was more than offset by strong performance in our Tools and Components segment, resulting in slightly positive core volume growth. Our pace to achieve record 2002 cash flow continues, with operating cash flow of $565.4 million for the nine month period, 31% higher than in 2001. We are keeping a cautious eye on a sluggish economy but remain comfortable that our momentum places us in a position to continue to outperform for the full year 2002."

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
                          Results of Operations

                  (thousands, except per share amounts)
                               (unaudited)

                             Quarter Ended          Nine Months Ended
                       September      September   September     September
                          27,            28,          27,           28,
                         2002           2001         2002          2001

  Net sales           $1,151,721      $901,588   $3,302,254    $2,863,512
  Operating costs
   and expenses:
  Cost of sales          691,648       547,630    2,021,740     1,757,328
  Selling, general and
  administrative
   expenses              272,889       190,481      785,049       617,690
   Gains on sale
   of real estate         (2,674)           --       (5,205)           --
  Goodwill and
   other amortization      2,428        15,837        6,444        45,823
  Total operating
   costs and
   expenses              964,291       753,948    2,808,028     2,420,841
  Operating profit       187,430       147,640      494,226       442,671
  Interest expense, net   10,287         7,244       32,503        19,385
  Earnings before
   income taxes
   and effect of
   accounting change     177,143       140,396      461,723       423,286
  Income taxes            61,114        52,650      159,294       158,733

  Net Earnings, before
   effect of
   accounting change     116,029        87,746      302,429       264,553

  Effect of accounting change,
   net of tax, adoption of
   SFAS No. 142               --            --      173,750            --

  Net Earnings         $ 116,029      $ 87,746    $ 128,679     $ 264,553

  Per share amounts before
  accounting change

  Basic earnings
   per share               $ .76         $ .61        $2.02         $1.84

  Weighted average shares
  outstanding - Basic    151,842       143,835      149,432       143,575

  Diluted earnings
   per share               $ .74         $ .59        $1.95         $1.78

  Weighted average shares
  outstanding - Diluted  159,611       152,198      157,868       151,769

  Per share amounts after
  accounting change

  Basic earnings
   per share                $.76         $ .61         $.86         $1.84
  Diluted earnings
   per share                $.74         $ .59         $.85         $1.78

  Per share effect
   of accounting
   change - Basic             --            --        $1.16            --
  Per share effect of
   accounting
   change - Diluted           --            --        $1.10            --

  Notes:
  1) Net earnings,
     before effect of
     accounting change and
     after adjustment
     for 2001 goodwill
     amortization       $116,029      $101,326     $302,429      $303,797
       Per diluted share    $.74          $.69        $1.95         $2.04

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

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SOURCE: Danaher Corporation