Reuters: US Dollar Report: Danaher CFO: Euro weakness could reduce earnings

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Danaher CFO: Euro weakness could reduce earnings Jun 6th 2012, 13:15 NEW YORK, June 6 | Wed Jun 6, 2012 9:15am EDT NEW YORK, June 6 (Reuters) - The recent weakness of the euro against the U.S. dollar could push down Danaher Corp's full-year earnings if it persists, the company's finance chief said on Wednesday. When the medical and industrial conglomerate reported quarterly results in late April, one euro bought around $1.30. It has since fallen to $1.24. If that euro weakness continues, it would reduce Danaher's full-year earnings by about 5 cents a share, Chief Financial Officer Daniel Komas told an investor conference in New York. Analysts on average expect Danaher to earn $3.32 per share for the year. The company generates nearly a quarter of its sales from Western Europe. A weaker euro reduces the value of European sales when they are translated into dollars. The euro hit a two-year low against the dollar last week on fears that a European debt crisis may force Greece to exit the euro zone and Spain may need to issue more debt to recapitalize its banks.

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