Slide 1: Teleflex Incorporated First Quarter 2012 Earnings Conference Call
1 TELEFLEX INCORPORATED FIRST QUARTER 2012 EARNINGS CONFERENCE CALL Exhibit 99.1
Slide 2: Conference Call Logistics
2 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 60148281
Slide 3: Introductions
3 Introductions Benson Smith Chairman, President and CEO Thomas Powell Senior Vice President and CFO Jake Elguicze Treasurer and Vice President of Investor Relations
Slide 4: Forward-Looking Statements/Additional Notes
4 4 4 4 4 4 4 Forward-Looking Statements/Additional Notes This presentation and our discussion contain forward-looking information and statements including, but not limited to, forecasted 2012 constant currency revenue growth, pricing growth, new product sales growth and increases in sales volume; o
Slide 5: First Quarter 2012 Highlights
5 FIRST QUARTER 2012 HIGHLIGHTS
Slide 6: Financial Highlights
6 Financial Highlights Revenue of $387.8 million, up 10.9% constant currency Gross margin of 47.9%, up 140 bps vs. prior year Adjusted operating margins of 15.7%, down 10 bps vs. prior year Adjusted EPS of $1.01, up 15% vs. prior year
Slide 7: Strategic Development Highlights
7 Strategic Development Highlights Marketplace continues to accept pricing initiatives Up 107 bps versus prior year Up 50 bps sequentially Investment in research and development paying benefits Research & Development spending up 5% versus Q1'11 New product introductions contribute 84 bps to top-line
Slide 8: Strategic Development Highlights: VasoNova VPS
8 Strategic Development Highlights Adoption of VasoNova VPS in U.S. market continues 10 accounts won during the first quarter of 2012 Approximately 30 trials per month scheduled through June 2012 CE Mark certification received on VasoNova VPS
Slide 9: Strategic Development Highlights: EZ-Blocker acquisition
9 Strategic Development Highlights Acquired EZ-BlockerTM single-use catheter product line Patented bronchial blocker for lung isolation and one-lung ventilation Unique bifurcated distal end CE Mark approval in Europe 510(k) application submitted to FDA pending clearance Strengthens Anesthesia and Re
Slide 10: Strategic Development Highlights: EFx acquisition
10 Strategic Development Highlights Signed definitive agreement to acquire the EFx family of laparoscopic fascial closure system products 510(k) approved for standard and bariatric length devices More than 750 clinical cases have been performed with the device in the United States Being prepared for
Slide 11: Group Purchasing Organization Update
11 Group Purchasing Organization Update Named Novation's 2011 Medical Surgical Supplier of the Year Awarded 5 GPO Contracts during the quarter 2 new awards 3 award renewals
Slide 12: First Quarter 2012 Financial Review
12 FIRST QUARTER 2012 FINANCIAL REVIEW
Slide 13: First Quarter - Financial Results
13 First Quarter - Financial Results Revenue of $387.8 million Up 9.5% as-reported; up 10.9% constant currency Gross margin of 47.9% Up 140 bps vs. prior year Research & development spending up 5% from prior year Adjusted operating margin of 15.7% Down 10 bps vs. prior year Goodwill impairment of $3
Slide 14: First Quarter 2012 Product & Geographic Revenue Review
14 FIRST QUARTER 2012 PRODUCT & GEOGRAPHIC REVENUE REVIEW
Slide 15: Product Revenue Review
15 Product Revenue Review Critical Care Surgical Care Cardiac Care OEM 0.66 0.19 0.05 0.1 Q1'12 Q1'11 Constant Currency Revenue Commentary Critical Care Surgical Care Cardiac Care OEM 0.67 0.18 0.05 0.1 Critical Care: $256.2 million, up 9.5% Surgical Care: $72.7 million, up 13.2% Vascular access - u
Slide 16: Segment Revenue Review
16 Segment Revenue Review North America EMEA Asia Pacific & Latin America OEM 0.43 0.35 0.12 0.1 Q1'12 Q1'11 Constant Currency Revenue Commentary North America EMEA Asia Pacific & Latin America OEM 0.43 0.35 0.12 0.1 North America: $167.3 million, up 9.6% EMEA: $134.6 million, up 11.0% Asia Pacific
Slide 17: 2012 Outlook
2012 OUTLOOK Teleflex:
Slide 18: 2012 Outlook
18 2012 Outlook Constant currency revenue growth range of 4.0% to 6.0% Pricing growth of 50 to 75 bps New product sales growth of 100 to 150 bps Increased volume of 250 to 375 bps Adjusted operating margins expand by approximately 100bps Gross margin expansion Acceleration of investments in research
Slide 19: Question & Answer
JESTION & ANSWER Teleflex:
Slide 20: Appendices
APPENDICES Teleflex:
Slide 21: Appendix A - Reconciliation of Product Constant Currency Revenue Growth
21 Appendix A - Reconciliation of Product Constant Currency Revenue Growth
Slide 22: Appendix B - Reconciliation of Segment Constant Currency Revenue Growth
22 Appendix B - Reconciliation of Segment Constant Currency Revenue Growth
Slide 23: Appendix C - Reconciliation of Critical Care Product Constant Currency Revenue Growth
23 Appendix C - Reconciliation of Critical Care Product Constant Currency Revenue Growth
Slide 24: Appendix D - Reconciliation of Teleflex Selling, General and Administrative Expenses
24 Appendix D - Reconciliation of Teleflex Selling, General and Administrative Expenses
Slide 25: Appendix E - Reconciliation of Teleflex Operating Expenses
25 Appendix E - Reconciliation of Teleflex Operating Expenses
Slide 26: Appendix F - First Quarter Income Statement from Continuing Operations
26 Appendix F - First Quarter Income Statement from Continuing Operations Dollars in millions, except per share
Slide 27: Appendix G - EPS Reconciliation from Continuing Operations
27 Appendix G - EPS Reconciliation from Continuing Operations In 2011, losses and other charges include approximately $9.3 million, net of tax, or $0.23 per share, related to the loss on extinguishment of debt; and $3.5 million, net of tax, or $0.09 per share, in charges related to severance payment
Slide 28: Appendix H - Reconciliation of 2012 Outlook Earnings per Share Guidance
28 Appendix H - Reconciliation of 2012 Outlook Earnings per Share Guidance Note: In 2012, special items include approximately $7.0 million, net of tax, or $0.17 per share related to the acceleration of an interest rate swap; and approximately $3.0 million, net of tax, or $0.08 per share related to f