Slide 1: Teleflex Incorporated Q3 2009 Financial Results
Teleflex Incorporated Q3 2009 Financial Results October 27, 2009 Exhibit 99.1
Slide 2: Forward-Looking Statements/Additional Notes
2 2 Forward-Looking Statements/Additional Notes This presentation and our discussion contain forward-looking information and statements including, but not limited to, expected increases in deliveries of cargo systems and spare & repair revenue by our Aerospace Segment in the fourth quarter of 2009;
Slide 3: Conference Call Logistics
3 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 97984342
Slide 4: Jeff Black, Chairman and Chief Executive Officer
4 Jeff Black Chairman and Chief Executive Officer
Slide 5: Third Quarter Financial Highlights
5 Third Quarter Financial Highlights Medical segment core revenue increases in vascular access, urology, anesthesia, respiratory, and cardiac products offset by declines in surgical instrument and OEM sales; overall core revenue decline of less than 1% Aerospace & Commercial segments drive consolida
Slide 6: Year-to-Date Financial Highlights
6 Year-to-Date Financial Highlights Consolidated core revenue decline of 8% principally from Aerospace and Commercial Segments Gross Margin excluding special charges of 43.3%, up 120 bps Segment operating margins before special charges of 15.6%, up 80 bps Adjusted Segment Operating Margins 2009 2008
Slide 7: FDA & Synergy Update
7 FDA & Synergy Update Czech Republic & Mexico facility visits scheduled for Q4'09 30 day advanced notice required to visit foreign locations No advanced notice required to visit U.S. locations On track to achieve $18 to $20 million of annual pre-tax synergies for 2009
Slide 8: Kevin Gordon, Executive Vice President and Chief Financial Officer
8 Kevin Gordon Executive Vice President and Chief Financial Officer
Slide 9: Three Month Summary from Continuing Operations
9 Three Month Summary from Continuing Operations
Slide 10: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations Note: Q3'09 losses and other charges include integration costs of $0.4m, net of tax Q3'09 tax adjustments represent a benefit from the net reduction in income tax reserves and discrete tax benefits related primarily to the expiration of the statute of l
Slide 11: Year-to-Date Summary from Continuing Operations
11 Year-to-Date Summary from Continuing Operations
Slide 12: Year-to-Date Summary from Continuing Operations
Year-to-Date Summary from Continuing Operations Note: Q3'09 year-to-date restructuring & impairment charges, include goodwill & intangible impairments of approx $8.2m, net of tax Q3'09 year-to-date losses and other charges includes loss on sale of Gauge business of $1.6m, net of tax & integration co
Slide 13: Medical Segment
Medical Segment Critical Care Anesthesia core growth driven by regional anesthesia product offerings Vascular access core growth driven by CVC in all regions Respiratory core growth in North America & EMEA Strong Urology core growth in all regions Surgical Core revenue decline led by reduced general
Slide 14: Aerospace Segment
14 Cargo Handling OEM wide-body sales up due to increased shipments of cargo loading systems to Boeing & Airbus offset by significant decline in aftermarket conversions Narrow-body cargo loading system unit volume up 25% from Q3'08 High margin spares sales down approximately $6M from Q3'08 Overall e
Slide 15: Commercial Segment
15 Commercial Segment Marine Revenues down versus prior year quarter; up sequentially Aftermarket revenue up over 10% vs. Q3'08 OEM revenue down significantly Gauge divestiture impacts revenue by approx. $3M Cost containment initiatives, mix of marine aftermarket vs. OEM sales, and higher margin sal
Slide 16: Year-to-Date Adjusted Cash Flow From Continuing Operations
16 Year-to-Date Adjusted Cash Flow From Continuing Operations ($ Millions) Capital Expenditures - $25.5 million Capital Expenditures - $21.5 million Note: 2008 & 2009 Cash Flow from Operations & Free Cash Flow exclude tax payments of $90.2M & $97.5M, respectively related to gain on sale of businesse
Slide 17: Jeff Black, Chairman and Chief Executive Officer
17 Jeff Black Chairman and Chief Executive Officer
Slide 18: Summary
18 Summary Medical Expect core revenue growth in Q4'09 led by vascular access, respiratory, and anesthesia product lines Flat core revenue growth for FY'09 Adjusted segment operating margins approximately 21% for the year On track to achieve $18 to $20 million of Arrow integration synergies in FY'09
Slide 19: Question and Answer Session
Question and Answer Session
Slide 20: Appendices
Appendices
Slide 21: Appendix A - Reconciliation of Medical Operating Profit and Margins
21 Appendix A - Reconciliation of Medical Operating Profit and Margins
Slide 22: Appendix B - Reconciliation of Teleflex Gross Profit and Margins
22 Appendix B - Reconciliation of Teleflex Gross Profit and Margins
Slide 23: Appendix C - Reconciliation of Teleflex Operating Expenses
23 Appendix C - Reconciliation of Teleflex Operating Expenses
Slide 24: Appendix D - Special Charge Income Statement Classification Summary
24 Appendix D - Special Charge Income Statement Classification Summary
Slide 25: Appendix E - Reconciliation of Teleflex Cash Flow from Continuing Operations
25 Appendix E - Reconciliation of Teleflex Cash Flow from Continuing Operations
Slide 26: Appendix F - Net Debt to Total Capital Reconciliation
26 Appendix F - Net Debt to Total Capital Reconciliation ($ Millions) * * = no quarterly installments due under bank agreement until March 2011
Slide 27: Appendix G - 2009 Outlook
27 Low High Earnings per share from continuing operations available to common shareholders including special charges $3.05 $3.30 Add-back special charges $0.35 $0.30 Earnings per share from continuing operations before special charges $3.40 $3.60 Adjusted cash flow from continuing operations $220 mi