Danaher Corporation(NYSE:DHR) posted lower second quarter earnings despite higher revenues, however, earnings beat estimates. However, the company projects lower than estimated profit for the current quarter. For the third quarter, the company expects to earn $0.74 to $0.79, well below analysts’ target of 84 cents a share. For the full year, the company trimmed its profit estimates to $3.19 to $3.26, from $3.25 to $3.35, well below analysts’ consensus of $3.30 a share.
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For the latest quarter, the company earned $600.15 million or $0.84 a share on revenue of $4.55 billion, compared to a year ago profit of $648.76 million or $0.94 a share on revenue of $3.64 billion. Analysts were estimating the company to earn $0.81 per share on revenues of $4.58 billion.
Select Comfort Corp.(NASDAQ:SCSS) is showing solid buying in the pre-open session as the company posted solid jump in second-quarter earnings thanks to solid demand for mattresses. The company posted net income of $17 million, or 30 cents a share, up from a year ago profit of $11.3 million, or 20 cents a share as revenue jumped 27% year over year to $205.2 million. Analysts were estimating the company to earn 27 cents a share on revenue of $198 million.
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For the full year, the company lifted its profit target to a range of $1.41 to $1.47, from $1.38 to $1.46 a share.
Shares of the company rose over 17% in pre-market session.
AutoNation, Inc.(NYSE:AN) shares also climbed as the company report higher second-quarter profit on increased sales. The company earned $78.6 million, or $0.64 per share, up from a year ago profit of $71.9 million or $0.48 per share last year. Excluding onetime costs, the company would have earned 66 cents a share, topping analysts’ estimates by 7 cents.
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Revenue during the quarter grew 17% to $3.9 billion, compared with $3.3 billion in the year-ago period, again ahead of analysts target of $3.77 billion. Operating income for the period was $164.2 million, an increase from $144.4 million in 2011.
Shares of ALN rose 3% in pre-open session.