Slide 1: Teleflex Incorporated Q1 2008 Financial Results
Teleflex Incorporated Q1 2008 Financial Results April 29, 2008 Exhibit 99.1
Slide 2: Forward-Looking Statements/Additional Notes
Forward-Looking Statements/Additional Notes This presentation and our discussion contain forward-looking information and statements including, but not limited to, such matters as business strategies, market trends, future business and financial performance, forecasts of earnings per share excluding
Slide 3: Conference Call Logistics
Conference Call Logistics The release, accompanying slides, and replay webcast available online at www.teleflex.com (click on "Investors") Telephone replay available by dialing 888-286-8010 or for international calls, 617-801-6888, pass code number 82788079
Slide 4: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 5: First Quarter Summary
First Quarter Summary Continuing operations deliver solid results Sales increase 37% driven by acquisition & currency EPS excluding special charges of $0.85 Medical performance more than offsets decline in Commercial, slightly lower Aerospace Medical adjusted segment operating margins approach 21% A
Slide 6: First Quarter Highlights Teleflex Medical
First Quarter Highlights Teleflex Medical Medical Arrow acquisition adds 59% to revenue, core revenue declines 1% Core revenue growth from new products / higher volume in European markets Surgical sales up across product lines in EMEA, Asia & Latin America, decline in North America Arrow new product
Slide 7: Q1 Medical Revenue by Region & Product Summary
Q1 Medical Revenue by Region & Product Summary Note: Q1'07 excludes Arrow acquisition which occurred in Q4'07
Slide 8: Medical Recent Product Introductions
Medical Recent Product Introductions
Slide 9: Arrow Integration/Synergies
Arrow Integration/Synergies On target for integration goals: Pre-tax synergies of $35-$40 million in 2008 Run rate annual pre-tax synergies of $70-$75 million by 2010 Activities in Q4/Q1: Completed consolidation/elimination of corporate/public company costs Realigned organizational structure Created
Slide 10: First Quarter Highlights Commercial and Aerospace
First Quarter Highlights Teleflex Commercial Teleflex Aerospace Aerospace First Boeing 767 special freighter shipped First Airbus 330/340 system shipped Aftermarket spares continues to increase Accelerated deliveries of A330/340 Awarded A350 XWB SFE status Commercial Marine aftermarket/international
Slide 11: Kevin Gordon, Executive Vice President and Chief Financial Officer
Kevin Gordon Executive Vice President and Chief Financial Officer
Slide 12: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations
Slide 13: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations Note: Q1'08 (gains)/losses and other charges includes integration costs of $0.2m, net of tax
Slide 14: Q1'08 vs. Q1'07 EPS Excluding Special Charges Bridge
Driving performance from operations Effective management of outstanding borrowings Q1'08 vs. Q1'07 EPS Excluding Special Charges Bridge
Slide 15: Q1 Cash Flow From Continuing Operations
Q1 Cash Flow From Continuing Operations ($ Millions) Capital Expenditures - $9.7 million; Dividends - $11.1 million Capital Expenditures - $7.8 Million; Dividends - $12.6 million 6% Growth 16% Growth Note: Q1'08 Cash Flow from Operations excludes $47M tax payment related to gain on sale of Automotiv
Slide 16: Medical Segment Q1'08 vs. Q1'07 Commentary
Medical Segment Q1'08 vs. Q1'07 Commentary Note: Operating Profit above excludes $6.9M inventory step-up and $0.3M integration charges Critical Care Arrow adds $113 million Respiratory care sales up in North America, Asia & Latin America; decline in EMEA Anesthesia / airway management sales volume u
Slide 17: Aerospace Segment Q1'08 vs. Q1'07 Commentary
Aerospace Segment Q1'08 vs. Q1'07 Commentary Cargo Handling First Boeing 767 special freighter system shipped First Airbus 330/340 system shipped Nordisk acquisition adds $14M to Q1 revenues Increase in aftermarket spares sales Airbus 330/340 system deliveries accelerated in 2008 will enhance core r
Slide 18: Commercial Segment Q1'08 vs. Q1'07 Commentary
Commercial Segment Q1'08 vs. Q1'07 Commentary Marine Core growth of 2% Sales strength in aftermarket offsets OEM & Engine decline Cost containment keeps operating margins relatively flat to prior year Rigging Services Core growth of 11% Acquisition adds to growth Margin pressure due to commodity pri
Slide 19: 2008 Outlook
Low High Earnings per share from continuing operations including special charges $3.03 $3.30 Addback special charges1 $0.67 $0.60 Earnings per share from continuing operations before special charges $3.70 $3.90 2008 Outlook Operating cash flow of over $250 million2 1 = includes restructuring, integr
Slide 20: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 21: 2008 Outlook Highlights
2008 Outlook Highlights Revenues over $2.4 billion Overall segment operating margins in the mid-teens for the year Operating cash flow of over $250 million1 Medical Sales growth driven by international markets Improvement in OEM business Arrow acquisition and new product launches in critical care Ac
Slide 22: Summary
Summary Teleflex Medical Teleflex Commercial Teleflex Aerospace Solid first quarter - reaffirm full year guidance Arrow integration plans and synergies ahead of schedule Accelerating investment for core growth Medical R&D initiatives Engineering for new aircraft platforms New technologies Continue t
Slide 23: Question and Answer Session
Question and Answer Session
Slide 24: Appendices
Appendices
Slide 25: Appendix A - QTD Reconciliation of Medical Operating Profit and Margins
Appendix A - QTD Reconciliation of Medical Operating Profit and Margins
Slide 26: Appendix B - QTD Reconciliation of Teleflex Gross Profit and Margins
Appendix B - QTD Reconciliation of Teleflex Gross Profit and Margins
Slide 27: Appendix C - QTD Reconciliation of Teleflex Operating Expenses
Appendix C - QTD Reconciliation of Teleflex Operating Expenses
Slide 28: Appendix D - Special Charge Income Statement Classification Summary
Appendix D - Q1'08 vs. Q1'07 Special Charge Income Statement Classification Summary
Slide 29: Appendix E - QTD Reconciliation of Teleflex Cash Flow from Operations
Appendix E - QTD Reconciliation of Teleflex Cash Flow from Operations
Slide 30: Appendix F - Capital Structure
Appendix F - Capital Structure $ Millions