NEW YORK (Standard&Poor's) Jan. 29, 2004--Danaher Corp. (A+/Stable/--) announced today that net earnings before unusual items for the fourth quarter of 2003 and for the full year were about $155 million and $522 million, an increase of 25% and 22%, respectively, from the year-earlier period. In addition, Danaher raised its 2004 earnings guidance to $3.85-$4 earnings per share in part because of stronger than expected demand across its product portfolio in the first quarter of 2004. Standard&Poor's Ratings Services said that these announcements have no immediate impact on its ratings or outlook on the company. Based on Danaher's expectations, funds from operations to total debt should be in the mid-50% area for Danaher in 2004, consistent
