Slide 1: First Quarter 2013 Earnings Conference Call
1 TELEFLEX INCORPORATED FIRST QUARTER 2013 EARNINGS CONFERENCE CALL 1 Exhibit 99.1
Slide 2: 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 82225144 2
Slide 3: Introductions
Introductions Benson Smith Chairman, President and CEO Thomas Powell Executive Vice President and CFO Jake Elguicze Treasurer and Vice President of Investor Relations 3
Slide 4: 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, our expectations with respect to expected launch dates of new products; forecasted 2013 constant currency revenue growth; forecasted 2013
Slide 5: First Quarter 2013 Highlights
5 FIRST QUARTER 2013 HIGHLIGHTS 5
Slide 6: Financial Highlights
Financial Highlights Revenue of $411.9 million, up 8.2% constant currency Adjusted gross margin of 48.8%, up 44 bps vs. prior year Adjusted operating margins of 14.7%, down 119 bps vs. prior year Adjusted EPS of $1.03, up 4% vs. prior year 6
Slide 7: Strategic Highlights: Pricing Initiatives
Strategic Highlights Price initiatives drove 55 bps of top-line growth in Q1 2013 Latin America up 298 bps Asia Pacific up 130 bps North America up 78 bps Europe down 22 bps Seventh consecutive quarter of positive year-over-year pricing 7
Slide 8: Strategic Highlights: Investing in Product Areas
Strategic Highlights Continue to invest in product areas to drive future revenue growth and profitability Research & development spending up 60 bps, or 30% Newly introduced products contribute 113 bps of revenue growth Gained marketing clearances for new vascular access and anesthesia products 8
Slide 9: ARROW VPS (Catheter Navigation System)
ARROW VPS(tm) (Catheter Navigation System) Only system to use micro-doppler ultrasound technology in combination with intravascular ECG and advanced algorithms Provides easy-to-follow symbols and improved sterile field capability Wi-Fi access to enable integration with hospital data management syste
Slide 10: ARROW JACC Nurse Insertion CVC System
PRODUCT DESCRIPTION Strategic Highlights EXPECTED LAUNCH DATE Q4 2013 ARROW JACC(tm) Nurse Insertion CVC System Long-term, small-bore antimicrobial and antithrombogenic catheter Designed specifically for the non-physician, vascular access specialist Addresses emerging trend within healthcare of plac
Slide 11: ISO-Gard Mask with ClearAir Technology
ISO-Gard(r) Mask with ClearAir(tm) Technology PRODUCT DESCRIPTION Novel product that helps to reduce clinician exposure to hazardous waste anesthetic gases (WAG) Designed to reduce WAG within a nurse's breathing zone to minimize the cumulative effect of low-level exposure to these gases in the Post
Slide 12: LMA International N.V. and affiliates
LMA International N.V. and affiliates Contributed revenue of approximately $33.5 million in Q1 2013 LMA integration and performance continues to be slightly ahead of initial expectations Strategic Highlights 12
Slide 13: Strategic Highlights: GPO & IDN Relationships
Strategic Highlights Continue to expand GPO & IDN relationships 5 new agreements (1 GPO; 4 IDN) 5 agreement renewals (3 GPO; 2 IDN) Profitability improvement and facility rationalization initiatives continue North American Distribution Center consolidation continues as planned Integration of legacy
Slide 14: First Quarter 2013 Financial Review
14 FIRST QUARTER 2013 FINANCIAL REVIEW 14
Slide 15: Financial Results
Financial Results Revenue of $411.9 million Up 8.2% on an as-reported and constant currency basis Adjusted gross margin of 48.8% Up 44 bps vs. prior year Research & development spending up 30% from prior year Adjusted operating margin of 14.7% Down 119 bps vs. prior year Adjusted EPS of $1.03, up 4%
Slide 16: First Quarter Product & Geographic Revenue Review
16 FIRST QUARTER PRODUCT & GEOGRAPHIC REVENUE REVIEW 16
Slide 17: Product Revenue Review
Product Revenue Review Critical Care Surgical Care Cardiac Care OEM 0.7 0.18 0.04 0.08 Q1'13 Q1'12 Constant Currency Revenue Commentary Critical Care Surgical Care Cardiac Care OEM 0.67 0.19 0.06 0.08 Critical Care: $287.0 million, up 12.0% Surgical Care: $74.7 million, up 3.3% Anesthesia - up 60.3%
Slide 18: Segment Revenue Review
Segment Revenue Review Americas EMEA Asia OEM 0.47 0.35 0.1 0.08 Q1'13 Q1'12 Constant Currency Revenue Commentary Americas EMEA Asia OEM 0.48 0.35 0.09 0.08 Americas: $195.8 million, up 8.5% EMEA: $142.4 million, up 5.4% Asia: $42.4 million, up 26.8% OEM: $31.3 million, down 1.1% Note: Increases and
Slide 19: 2013 Financial Outlook
19 2013 FINANCIAL OUTLOOK 19
Slide 20: 2013 Financial Outlook
2013 Financial Outlook Constant currency revenue growth of between 11% to 13% Gross margin of between 50% to 51% Including impact of medical device tax, adjusted operating margin expected to be between 16.0% to 17.0% Medical device tax expected to negatively impact adjusted operating margin by ~ 1%
Slide 21: Question & Answer
21 QUESTION & ANSWER 21
Slide 22: Appendices
22 APPENDICES 22
Slide 23: Appendix A - Reconciliation of Product Constant Currency Revenue Growth
Appendix A - Reconciliation of Product Constant Currency Revenue Growth Dollars in Millions 23
Slide 24: Appendix B - Reconciliation of Segment Constant Currency Revenue Growth
Appendix B - Reconciliation of Segment Constant Currency Revenue Growth Dollars in Millions 24
Slide 25: Appendix C - Reconciliation of Critical Care Product Constant Currency Revenue Growth
Appendix C - Reconciliation of Critical Care Product Constant Currency Revenue Growth Dollars in Millions 25
Slide 26: Appendix D - Fourth Quarter Income Statement from Continuing Operations
Appendix D - Fourth Quarter Income Statement from Continuing Operations Dollars in millions, except per share 26
Slide 27: Appendix E - EPS Reconciliation from Continuing Operations
Appendix E - EPS Reconciliation from Continuing Operations 27
Slide 28: Appendix F - EPS Reconciliation from Continuing Operations
Appendix F - EPS Reconciliation from Continuing Operations 28
Slide 29: Appendix G - Reconciliation of 2013 Outlook Earnings per Share Guidance
Appendix G - Reconciliation of 2013 Outlook Earnings per Share Guidance Low High Diluted earnings per share attributable to common shareholders $3.20 $3.40 Restructuring and impairment charges, net of tax $0.51 $0.51 Intangible amortization expense, net of tax $0.82 $0.82 Amortization of debt discou
Slide 30: Appendix H - Reconciliation of Teleflex SG&A Expenses
30 Appendix H - Reconciliation of Teleflex Selling, General and Administrative Expenses
Slide 31: Appendix I - Reconciliation of Teleflex Gross Profit
31 Appendix I - Reconciliation of Teleflex Gross Profit