LIMERICK, Pa.--(BUSINESS WIRE)--Jan. 8, 2009--Teleflex Incorporated (NYSE:TFX) will provide a preliminary financial
performance outlook for 2009 and discuss its business plans and
strategic initiatives in a conference call with investors today.
Jeffrey P. Black, chairman and chief executive officer of Teleflex,
commented, "2008 was a strong year for Teleflex as we progressed on our
stated goals of expanding operating margins, generating strong cash flow
from operations and achieving expected operational efficiencies.
Entering 2009, we have a stronger portfolio of businesses positioned to
deliver increased margins, strong cash flow and long-term revenue
growth. The integration of the Arrow business continues on schedule and
we are making good progress reducing our debt."
Black continued, "The changes we made to our portfolio of businesses
over the past few years have better positioned us to manage through this
challenging economic environment. We expect to deliver consolidated
adjusted segment operating profit margins in the mid-teens for 2009.
With the integration of Arrow and planned increased investment in R&D,
our outlook anticipates Medical adjusted segment operating margins
exceeding 20% for the year and Aerospace and Commercial operating
margins in line with 2008 levels. These operating margins, combined with
our solid working capital management processes, are expected to deliver
another year of strong cash flow."
The company's financial goals for 2009 include total revenues exceeding
$2.4 billion and diluted earnings per share from continuing operations
excluding special items in the range of $4.10 to $4.40. Cash flow from
operations is expected to be in the range of $280 to $290 million.
Restructuring and other special charges related to the Arrow integration
and recently announced Commercial group restructuring program are
anticipated to be in the range of $0.30 to $0.40 per diluted share for
the year. Pre-tax synergies to be realized in 2009 from the Arrow
acquisition are expected to be in the range of $18 to $20 million.
Inclusive of these synergies, the company expects to achieve cumulative
pre-tax annual synergies related to Arrow in the range of $60 to $62
million through 2009, and $70 to $75 million through 2010.
Teleflex plans to report fourth quarter and year end 2008 financial
results before the market opens and to webcast a conference call with
investors on February 25, 2009. Further information will be available
prior to the call.
As previously announced, Teleflex will hold a conference call today at
9:00 a.m. (EST). The conference call will be available live and archived
on the company's website at www.teleflex.com.
In addition, an audio replay will be available from January 8 until
January 13 by calling 888-286-8010 (US/Canada) or 617-801-6888
(International), passcode # 95390184.
Teleflex at a Glance:
Teleflex is a diversified company that designs, manufactures and
distributes quality engineered products and services for the medical,
aerospace and commercial markets worldwide. Teleflex employs
approximately 14,000 people worldwide who focus on providing innovative
solutions for customers. Additional information about Teleflex can be
obtained from the company's website at www.teleflex.com.
Forward-looking information:
This press release contains forward-looking statements, including, but
not limited to, statements relating to expected segment operating profit
margins and investments in R&D; full year revenues and diluted earnings
per share from continuing operations before giving effect to charges
related to the restructuring and other special charges; expected cash
flow from operations; forecasts regarding restructuring and other
special charges and annual pre-tax synergies related to the Arrow
integration. Actual results could differ materially from those in these
forward-looking statements due to, among other things, unanticipated
expenditures in connection with the effectuation of restructuring
programs; costs and length of time required to comply with legal
requirements applicable to certain aspects of the restructuring program;
unanticipated difficulties in connection with consolidation of
manufacturing and administrative functions; customer reaction to the
program; our ability to realize efficiencies; changes in material costs
and surcharges; unanticipated difficulties, expenditures and delays in
connection with the integration of Arrow International or our resolution
of issues related to the FDA corporate warning letter issued to Arrow;
our ability to meet our debt obligations; business conditions and the
general economy, market opportunities, competitive factors, sales and
marketing execution, shifts in technologies or market demand; and other
factors described in Teleflex's filings with the Securities and Exchange
Commission.
CONTACT: Teleflex Incorporated
Jake Elguicze
Senior Director, Investor Relations
610-948-2836
Source: Teleflex Incorporated