LIMERICK, Pa., Jan 11, 2010 (BUSINESS WIRE) -- Teleflex Incorporated (NYSE: TFX) will provide a preliminary financial
performance outlook for 2010 and discuss its business plans and
strategic initiatives in a conference call with investors today.
The company's financial estimates for 2010 include total revenues in
excess of $1.92 billion and diluted earnings per share from continuing
operations excluding special items in the range of $4.10 to $4.25, or
growth between 14% to 18% as compared to 2009. Cash flow from continuing
operations is expected to be in the range of $275 to $280 million, or
growth between 20% to 27% as compared to 2009.
Restructuring and other special charges related to the Arrow integration
program are anticipated to be $0.05 per diluted share for the year.
"During 2010 we expect to achieve consolidated core revenue growth of
between 2% to 3%, led by Medical segment core revenue growth of between
3% to 4%," said Jeffrey P. Black, chairman and chief executive officer.
"In addition, we expect to continue to expand our Medical operating
margins, and anticipate they will approach 22% for the year."
Black continued, "We also expect the cost reduction initiatives
implemented in 2009 to drive margin expansion in both our Aerospace and
Commercial segments. These operating margins, combined with our
continued focus on reducing working capital, are expected to deliver
another year of strong cash flow."
Teleflex plans to report fourth quarter and year end 2009 financial
results and to webcast a conference call with investors before the
market opens on February 24, 2010. 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 11 until
January 15 by calling 888-286-8010 (US/Canada) or 617-801-6888
(International), passcode 69522110.
About Teleflex Incorporated
Teleflex is a diversified company with a significant presence in medical
technology and niche businesses serving aerospace and commercial
markets. Teleflex employs approximately 12,600 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 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 continuing operations; forecasts regarding restructuring
and other special charges; expectations with respect to core revenue
growth and Medical Segment core revenue growth; expected Medical Segment
operating margins; and margin expansion in our Aerospace and Commercial
segments expected to result from cost reduction initiatives implemented
in 2009. 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.
SOURCE: Teleflex Incorporated
Teleflex Incorporated
Jake Elguicze
Vice President
Investor Relations
610-948-2836