Danaher Corporation announced today that net earnings for its second quarter ended June 30, 2006 were $315 million, or $0.98 per diluted share, 40% higher than its 2005 second quarter net earnings of $229 million, or $0.70 per diluted share. Included in the 2006 second quarter results were the effect of a gain of $0.03 per share related to the sale of an interest in shares of First Technology PLC and the impact from certain tax reserve reductions of approximately $0.15 per share. On a pro forma basis, excluding the effect of these items but including option expensing in both years, earnings per diluted share would have been $0.80, a 23% increase over the comparable earnings per share for 2005 which also excludes approximately $0.03 per share of gains. For a reconciliation of this non-GAAP measure to earnings per share calculated according to GAAP, see the attached table.

Sales for the 2006 second quarter were $2,350 million, 21.5% higher than the $1,929 million reported for the 2005 second quarter.

Net earnings for the first six months of 2006 including the effect of the gains were $530 million, or $1.65 per diluted share, compared with $417 million, or $1.28 per diluted share for 2005, an increase of 27%. Excluding the effect of the above described items, net earnings per diluted share for the first six months of 2006 would have been $1.46, a 21.5% increase over the comparable earnings per share for 2005. Sales for the first six months of 2006 were $4,493 million compared to $3,755 million for the first six months of 2005, an increase of 19.5%.

H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, "We are pleased to again report record quarterly earnings. Revenue growth from existing businesses, also known as core revenues, remained strong and accounted for just over 6% growth, with all three of our reporting segments contributing higher core revenue growth as compared to the same period in 2005. Total sales growth for the quarter also includes acquisition growth of 15.5% and a negligible impact from currency. Our operating cash flow for the first half of 2006 was $652 million, another record. The strength we continue to see across our businesses continues to reinforce our confidence in our ability to deliver positive results for the second half of 2006."

Danaher Corporation is a leading manufacturer of Professional Instrumentation, Industrial Technologies, and Tools and Components. (http://www.danaher.com/)

Statements in this release that are not strictly historical, including statements regarding events or developments that we believe or anticipate will or may occur in the future, may be "forward-looking" statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These factors include, among other things, litigation and other contingent liabilities, the Company's ability to achieve projected efficiencies, cost reductions, sales growth and earnings, economic conditions in the end-markets the Company sells into, the Company's ability to expand its business in new geographic markets, commodity costs and surcharges, competition, market demand for new products, currency exchange rates, the integration of acquired businesses, changes in the market for acquisitions and divestitures, regulatory approvals and the Company's ability to consummate announced acquisitions, and general economic conditions. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2005 Annual Report on Form 10-K and Second Quarter 2006 Quarterly Report on Form 10-Q. These forward-looking statements speak only as of the date of this release and the Company disclaims any duty to update any forward-looking statement.

To download a copy of the full earnings report, please go to http://www.danaher.com/

                           DANAHER CORPORATION
              CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
                (000's omitted, except per share amounts)
                               (unaudited)

                         Three Months Ended           Six Months Ended
                     June 30, 2006  July 1, 2005 June 30, 2006  July 1, 2005

  Sales
  Operating costs and
   expenses:           $2,349,764    $1,928,627   $4,493,425   $3,754,575
    Cost of sales       1,317,653     1,079,024    2,544,625    2,129,788
    Selling, general
     and administrative
     expenses             666,446       537,158    1,286,064    1,045,840
    Gain on sales of
     real estate and
     other assets        (15,617)       (8,576)     (15,617)     (13,911)

   Total operating
    expenses            1,968,482     1,607,606    3,815,072    3,161,717

  Operating profit        381,282       321,021      678,353      592,858
    Interest expense     (17,481)      (12,815)     (27,275)     (26,303)
    Interest income         3,995         7,684        5,831        8,999
  Earnings before
   income taxes           367,796       315,890      656,909      575,554
    Income taxes           53,274        86,870      126,668      158,278
  Net earnings           $314,522      $229,020     $530,241     $417,276

  Earnings per share:
     Basic                  $1.02         $0.74        $1.73        $1.35
     Diluted                $0.98         $0.70        $1.65        $1.28

  Average common stock
   and common equivalent
   shares outstanding:
      Basic               307,859       309,639      307,348      309,759
      Diluted             324,003       328,724      324,024      329,057


  See notes to consolidated condensed financial statements.

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

  Danaher Corporation Supplemental Reconciliation of Earnings Per Share
        Three and Six Months Ended June 30, 2006 and July 1, 2005

                            Three Months Ended         Six Months Ended
                         June 30,  July 1,   %      June 30,  July 1,   %
                           2006     2005   Change     2006     2005   Change

  Net earnings per GAAP  $314,522 $229,020  37.5%  $530,241  $417,276  27.0%
   After-tax gain on
    sale of a minority
    interest acquired in
    connection with an
    unsuccessful
    acquisition target
    ($14 million
    pre-tax)              (9,083)        -          (9,083)         -
   Reduction in income
    tax reserves         (48,944)        -         (52,166)         -
   Pro forma after tax
    impact of stock
    option expense             -   (6,100)                -  (12,014)
   After-tax gain on
    retained debt and
    equity interest on
    previously sold
    business ($5.3
    million pre-tax)           -   (3,821)                -   (3,821)
   After-tax interest
    benefit on interest
    collected related to
    retained debt
    interest ($4.6
    million pre-tax)           -   (3,334)                -   (3,334)
   After-tax gain on
    sale of business
    ($4.6 million
    pre-tax)                   -   (3,314)                -   (3,314)
   Other after-tax
    (gains)/loss on sale
    of real estate &
    other non-
    operational assets   (1,192)       917          (1,192)   (2,951)
  Net Earnings - Pro
   Forma                $255,303  $213,368  19.5%  $467,800  $391,842  19.4%

  Diluted net earnings
   per share per GAAP      $0.98     $0.70  40.0%     $1.65     $1.28  29.0%
   After-tax gain on sale
    of a minority
    interest acquired in
    connection with an
    unsuccessful
    acquisition target
    ($14 million pre-tax) (0.03)         -           (0.03)         -
   Reduction in income
    tax reserves          (0.15)         -           (0.16)         -
   Pro forma after tax
    impact of stock
    option expense             -    (0.02)                -    (0.04)
   After-tax gain on
    retained debt and
    equity interest on
    previously sold
    business ($5.3 million
    pre-tax)                   -    (0.01)                -    (0.01)
   After-tax interest
    benefit on interest
    collected related to
    retained debt interest
    ($4.6 million pre-tax)     -    (0.01)                -    (0.01)
   After-tax gain on sale
    of business ($4.6
    million pre-tax)           -    (0.01)                -    (0.01)
   Other after-tax
    (gains)/loss on sale
    of real estate & other
    non-operational assets     -         -                -    (0.01)
  Diluted net earnings
   per share - Pro Forma   $0.80     $0.65  23.0%     $1.46     $1.20  21.5%

NOTE: In addition to the results provided in this release in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), the Company has provided non-GAAP measures (the "non-GAAP measures") which compare earnings per share for the three and six months ended July 1, 2005 to earnings per share for the three and six months ended June 30, 2006 on a basis which includes stock option expense in both periods and excludes special items relating to a reduction of income tax reserves, gains related to the sale of a minority interest and gains related to the sale of real estate and other assets in the second quarter of 2006, and the sale of real estate and other assets and gains from the sale of a minority interest and related interest benefit in the 2005 period. The non-GAAP measures should not be considered a replacement for earnings per share calculated according to GAAP. The above table provides a reconciliation of the non-GAAP measures to earnings per share calculated according to GAAP. The non-GAAP measure is a financial measure we use to evaluate the underlying results and operating performance of our business. The limitation of this measure is that it excludes items that impacted the company's earnings in the relevant periods, and includes an item that was not included in the Company's earnings in the first half of 2005. We believe however that the non-GAAP measure helps investors to draw comparisons between operating results reported in different periods and identify underlying trends that might otherwise be masked by earnings per share calculated according to GAAP.

SOURCE: Danaher Corporation