Washington-based Danaher (NYSE:DHR) posted gains in its 1st-quarter 2013 sales and profits, but fell a penny short of analysts’ earning expectations for the 3 months ended March 29, 2013.

Danaher posted profits of $691.9 million, or 98¢ per diluted share, on $4.44 billion in sales for Q1. That’s a 3% boost in sales and a 12.9% increase in profits compared to the same period last year, when Danaher reported $612.9 million in profit, or 86¢ per share, on sales of $4.32 billion.

Adjusted for 1-time items, including the gains from Danaher’s divestiture of its Apex Tool Group joint venture, 1st-quarter earnings were reported as 75¢ per share, just 1¢ shy of analysts’ consensus projection.

The miss dragged DHR down 2.5% on Wall Street today, where shares were trading at $58.24 as of about 2:15 p.m.

Danaher further reaffirmed its prior guidance for this year’s earnings in the range of $3.32-$3.47 per diluted share, and projected next quarter’s earnings at at 80¢-85¢, according to the company report.

"Our modest expectations for global growth heading into this year have, so far, played out largely as anticipated," president & CEO H. Lawrence Culp, Jr., said in prepared remarks. "We believe our solid recurring revenue base, the structural cost actions executed in 2012 and an attractive acquisition environment position Danaher well for the balance of 2013 and beyond."

The medical device maker posted strong numbers last year, reporting increases across the board for fiscal 2012. Danaher noted gains on all of its product sales, including a 6.3% increase in its life sciences & diagnostics sales and a 3.7% increase in its dental products sales.