Danaher Corporation announced record results for the second quarter of 2008, with net earnings from continuing operations of $363 million, an 18% increase over the second quarter of 2007. Sales increased 25% to $3.28 billion. The company also saw a 22% increase in adjusted net earnings from continuing operations, which excludes certain charges related to an acquisition. For the first six months of 2008, net earnings from continuing operations were $640 million, up 14.5% compared to the same period in 2007. The company's CEO stated that despite economic conditions, the company's businesses are well positioned for the rest of 2008.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
The new type of smart, sustainable entrepreneurship and the next day | Europe...
danaher 08_2Q_Release
1. DANAHER ANNOUNCES RECORD SECOND QUARTER RESULTS
WASHINGTON, D.C., July 17, 2008 -- Danaher Corporation (NYSE:DHR) announced today that net earnings from continuing
operations for the quarter ended June 27, 2008 were $363 million, or $1.09 per diluted share, an 18% increase as compared to the
Company’s 2007 second quarter net earnings from continuing operations of $308 million, or $0.95 per diluted share. Included in the
2008 second quarter earnings per share results were certain non-cash charges related to the acquisition of Tektronix for fair value
adjustments to recorded inventory and deferred revenue which reduced net earnings by $10 million or $0.03 per diluted share in the
period. The Company’s tax rate for the quarter was 24% which benefited from certain favorable discrete tax benefits as well as a
slightly lower effective tax rate within the quarter. The positive impact of this lower tax rate as compared to the Company’s expected
tax rate of 26.5% was approximately $0.04 per share in the 2008 second quarter. Approximately $0.03 per share relates to discrete tax
matters in the quarter and approximately $0.01 per share relates to the lower overall effective tax rate. Included in the second quarter
2007 diluted net earnings per share from continuing operations is a gain of approximately $0.02 per share related to the collection of
indemnification proceeds related to a litigation matter. Absent the Tektronix related charges, the discrete tax benefit and the prior year
gain, adjusted net earnings from continuing operations were $365 million or $1.09 per diluted share, a 22% increase over last year’s
second quarter adjusted net earnings from continuing operations of $299 million, or $0.93 per diluted share.
Sales from continuing operations for the 2008 second quarter were $3.28 billion, 25% higher than the $2.63 billion reported for the
2007 second quarter.
Net earnings from continuing operations for the first six months of 2008 were $640 million, or $1.92 per diluted share, compared with
net earnings from continuing operations of $559 million, or $1.72 per diluted share for the first six months of 2007.
Sales from continuing operations for the first six months of 2008 were $6.31 billion compared to $5.15 billion for the first six months
of 2007, an increase of 22.5%.
H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, quot;We are pleased with our record second quarter results. Revenue
growth from existing businesses was 5.5% and was broad-based. In addition, record quarterly free cash flow of $537 million attests to
the quality of our financial performance. Despite the current economic backdrop we believe our businesses are well positioned to
deliver positive results for the balance of 2008.”
Danaher will discuss its results during its investor conference call today starting at 8:00 a.m. EST. The call and an accompanying
slide presentation will be webcast on the “Investors” section of Danaher’s website at http://www.danaher.com. A replay of the
webcast can be accessed on the “Investors” section of Danaher’s website (under the subheading “Web Events”) shortly after the
conclusion of the presentation, and the webcast will remain available until the next quarterly earnings call. The conference call can be
accessed by dialing 877-627-6590 or 719-325-4911 a few minutes before the 8:00 a.m. EDT start and telling the operator that you are
dialing in for Danaher’s investor conference call, access code 4979941. A replay of the conference call will be available shortly after
the conclusion of the call until July 22, 2008 and you can access the replay by dialing 888-203-1112 or 719-457-0820, access code
4979941. In addition, related presentation materials have been posted to the “Investors” section of Danaher’s website under the
subheading “Earnings.”
Danaher Corporation is a leading manufacturer of Professional Instrumentation, Medical Technologies, Industrial Technologies, and
Tools and Components (www.danaher.com).
Statements in this release that are not strictly historical, including the statements regarding expectations for the balance of 2008 and
any other statements regarding events or developments that we believe or anticipate will or may occur in the future, may be quot;forward-
lookingquot; 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, competition, our ability to develop and
successfully market new products and technologies, our ability to expand our business in new markets, our ability to identify,
consummate and integrate appropriate acquisitions, litigation and other contingent liabilities including intellectual property and
environmental matters, our compliance with applicable laws and regulations and changes in applicable laws and regulations, tax audits
1
2. and changes in our tax rate, currency exchange rates, commodity costs and surcharges, our relationships with and the performance of
our channel partners, our ability to achieve projected efficiencies, cost reductions, sales growth and earnings, economic and other
conditions in the end-markets we sell into, and general domestic and international 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 2007 Annual Report on Form 10-K and our Quarterly Report on Form 10-Q for the second quarter of 2008.
These forward-looking statements speak only as of the date of this release and the Company does not intend to update any forward-
looking statement.
To download a copy of the full earnings report, please go to www.danaher.com.
Please contact:
Andy Wilson
Vice President, Investor Relations
Danaher Corporation
2099 Pennsylvania Avenue
Washington, D.C. 20006
Telephone: (202) 828-0850
Fax: (202) 828-0860
2
3. DANAHER CORPORATION
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
($ and shares in thousands, except per share amounts)
(unaudited)
Three Months Ended Six Months Ended
June 27, 2008 June 29, 2007 June 27, 2008 June 29, 2007
Sales $ 3,283,895 $ 2,631,885 $ 6,312,769 $ 5,153,589
Operating costs and expenses:
Cost of sales 1,723,596 1,430,634 3,334,754 2,812,435
Selling, general and administrative expenses 859,969 642,689 1,678,359 1,288,514
Research and development expenses 189,866 130,009 375,970 253,970
Other (income) expense -- (14,335) -- (14,335)
Total operating expenses 2,773,431 2,188,997 5,389,083 4,340,584
Operating profit 510,464 442,888 923,686 813,005
Interest expense (33,854) (23,948) (74,523) (51,239)
Interest income 1,412 952 4,934 2,540
Earnings from continuing operations before
income taxes 478,022 419,892 854,097 764,306
Income taxes (114,574) (112,236) (214,144) (205,034)
Earnings from continuing operations 363,448 307,656 639,953 559,272
Earnings from discontinued operations, net of
income taxes -- 3,498 -- 6,686
Net earnings $ 363,448 $ 311,154 $ 639,953 $ 565,958
Earnings per share from continuing operations:
Basic $ 1.14 $ 1.00 $ 2.01 $ 1.81
Diluted $ 1.09 $ 0.95 $ 1.92 $ 1.72
Earnings per share from discontinued
operations:
Basic -- $ 0.02
-- $ 0.01
Diluted -- $ 0.02
-- $ 0.01
Net earnings per share:
Basic $ 1.14 $ 1.01 $ 2.01 $ 1.83
Diluted $ 1.09 $ 0.96 $ 1.92 $ 1.74
Average common stock and common
equivalent shares outstanding:
Basic 319,233 309,471 319,018 309,570
Diluted 336,551 327,736 336,263 327,843
See the accompanying Notes to Consolidated Condensed Financial Statements.
A complete copy of Danaher’s Form 10-Q financial statements is available on the Company’s website (www.danaher.com).
3
4. Danaher Corporation
Supplemental Reconciliation of Net Earnings from Continuing Operations and Diluted Net Earnings Per
Share from Continuing Operations (GAAP) to Adjusted Net Earnings from Continuing Operations and
Adjusted Diluted Net Earnings Per Share from Continuing Operations
Three Months and Six Months Ended June 27, 2008 and June 29, 2007
($ in 000's except per share data)
Three Months Ended Six Months Ended
June 27, 2008 June 29, 2007 % Change June 27, 2008 June 29, 2007 Change
18.0% 14.5%
Net Earnings from Continuing Operations per GAAP $ 363,448 $ 307,656 $ 639,953 $ 559,272
After-tax charges for fair value adjustments to recorded
inventory and deferred revenue balances related to the
acquisition of Tektronix ($13.5 million & $39.6 million pre-
tax in Q2 and 1H 2008, respectively) 10,015 - 29,176 -
Gains from net reduction in income tax reserves and
discrete tax benefits (8,500) - (8,215) -
After-tax gain on indemnity proceeds related to litigation
matter ($12.5 million pre-tax) - (8,110) - (8,110)
Adjusted Net Earnings from Continuing Operations (Non-GAAP) 22.0% 20.0%
$ 364,963 $ 299,546 $ 660,914 $ 551,162
Diluted Net Earnings Per Share from Continuing
14.5% 11.5%
Operations per GAAP $ 1.09 $ 0.95 $ 1.92 $ 1.72
After-tax charges for fair value adjustments to recorded
inventory and deferred revenue balances related to the
acquisition of Tektronix ($13.5 million & $39.6 million pre-
tax in Q2 and 1H 2008, respectively) 0.03 $ - 0.09 $ -
Gains from net reduction in income tax reserves and
discrete tax benefits (0.03) $ - (0.03) $ -
After-tax gain on indemnity proceeds related to litigation
matter ($12.5 million pre-tax) - $ (0.02) - $ (0.02)
Adjusted Diluted Net Earnings Per Share from Continuing
Operations (Non-GAAP) 17.0% 16.5%
$ 1.09 $ 0.93 $ 1.98 $ 1.70
Danaher Corporation
Supplemental Reconciliation of Revenue Growth (GAAP) to Revenue Growth from Existing
Businesses (Non-GAAP)
Three Months Ended June 27, 2008
Three Months Ended June 27,
2008 vs. Comparable 2007
Period
Components of Sales Growth
Existing Businesses 5.5%
Acquisitions 14.0%
Impact of currency translation 5.5%
Total 25.0%
Danaher Corporation
Supplemental Reconciliation of Operating Cash Flows from Continuing Operations (GAAP)
to Free Cash Flow (Non-GAAP)
Three Months Ended June 27, 2008
Three Months Ended
June 27, 2008
Free Cash Flows ($ in 000's):
Operating Cash Flows from Continuing Operations $ 581,772
Payments for Property, Plant & Equipment (Capital
Expenditures) $ (44,907)
Free Cash Flow $ 536,865
4
5. Notes to Non-GAAP Reconciliation Schedule
General
In addition to the results provided in this release in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”),
the Company has provided the following non-GAAP measures:
(1) Adjusted net earnings from continuing operations for the three months ended June 27, 2008 and June 29, 2007 and
adjusted net earnings from continuing operations per diluted share for the three months ended June 27, 2008 and June 29, 2007.
These measures are calculated on a basis which:
• in the 2008 period, exclude (a) certain non-cash charges related to the acquisition of Tektronix, Inc. for fair value
adjustments to recorded inventory and deferred revenue balances, and (b) gains related to a reduction of income tax
reserves and discrete tax benefits; and
• in the 2007 period, exclude the gain on indemnity proceeds received in connection with a litigation matter.
The Company also discloses the year-over-year percentage change in these non-GAAP measures. Collectively, these non-GAAP
measures are referred to as the “non-GAAP earnings measures”.
(2) Revenue growth from existing businesses (presented on a stand-alone basis), which is defined as revenue growth from
businesses that have been owned for one year or more, excluding the effects of foreign currency fluctuations.
(3) Free cash flow, which is defined as operating cash flow from continuing operations less purchases of property, plant and
equipment related to continuing operations.
The non-GAAP measures should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP
measures. Danaher’s non-GAAP measures may be defined differently than similar non-GAAP measures that are used by other
companies.
Non-GAAP earnings measures and revenue growth from existing businesses
Danaher’s management believes that the non-GAAP earnings measures and revenue growth from existing businesses reflect
additional ways of viewing aspects of Danaher’s operations that, when viewed with and reconciled to the corresponding GAAP
measures, provide a more complete understanding of Danaher’s results of operations and help identify underlying trends in
Danaher’s business. The items that have been excluded from the non-GAAP earnings measures have been excluded because
items of this nature and size occur with inconsistent frequency and for reasons that may be unrelated to Danaher’s commercial
performance during the period, and we believe are not indicative of Danaher’s ongoing operating costs or gains in a given period.
Similarly, revenue growth from existing businesses excludes items that are not completely under management's control, such as
the impact of changes in foreign currency exchange rates, and items that do not reflect the underlying growth of the company,
such as acquisition and divestiture activity.
Danaher’s management uses these non-GAAP measures in assessing current performance against prior period performance and
against forecasted performance, in forecasting financial results for future periods, and in making decisions about internal budgets,
resource allocation and financial goals for its business units. Danaher’s management believes that these non-GAAP measures
help investors and others, if they so choose, in understanding and evaluating Danaher’s current operating performance and future
prospects in the same manner as management does. In addition, Danaher believes that analysts and others in the investment
community use these non-GAAP measures to assess Danaher’s performance against prior period performance and against
forecasted performance, compare Danaher’s performance to the performance of our peer companies, identify trends in Danaher’s
performance and provide estimates of future performance.
A general limitation of these non-GAAP measures is that use of these measures (as compared to the related GAAP measures of
net earnings from continuing operations, revenue and revenue growth) may reduce comparability with other companies who may
calculate similar non-GAAP measures differently. A particular limitation of the non-GAAP earnings measures is that they
exclude charges that can significantly affect Danaher’s results of operations and that may recur in the course of Danaher’s
business (though at times and in amounts that may be difficult to predict). Similarly, a particular limitation of revenue growth
from existing businesses is that it excludes items that can significantly impact our revenues. Danaher management compensates,
and believes that investors should compensate, for these and other limitations of these non-GAAP measures by also considering
Danaher’s financial results as determined in accordance with GAAP, including the GAAP measures described above in this
paragraph.
5
6. Free cash flow
Danaher’s management believes that free cash flow reflects an additional way of viewing aspects of Danaher’s operations that, when
viewed with and reconciled to operating cash flow from continuing operations, provides useful information to investors regarding
Danaher’s ability to generate cash without external financings. Danaher’s management uses free cash flow to help gauge the
resources available for strategic opportunities such as making acquisitions, investing in the business and strengthening the balance
sheet, and uses this measure in making operating decisions, allocating financial resources and for budget planning purposes.
Danaher’s management believes that the free cash flow measure helps investors and others, if they so choose, in understanding and
evaluating Danaher’s ability to generate cash without external financings in the same manner as management does. In addition,
Danaher believes that analysts and others in the investment community use free cash flow to assess the strength of Danaher’s earnings
performance and gauge Danaher’s ability to strengthen its balance sheet, invest in the business and grow the business through
acquisitions and other strategic opportunities.
A general limitation of Danaher’s free cash flow measure is that use of this measure (as compared to operating cash flow from
continuing operations) may reduce comparability with other companies who may calculate free cash flow differently. Another
limitation of Danaher’s free cash flow measure is that it does not take into account the Company's debt service requirements and other
non-discretionary expenditures and therefore is not necessarily indicative of amounts of cash that may be available for discretionary
uses. Danaher’s management compensates, and believes that investors should compensate, for these and other limitations of Danaher’s
free cash flow measure by also considering Danaher’s operating cash flow from continuing operations.
6