Slide 1: Teleflex Incorporated Q1 2009 Financial Results
Teleflex Incorporated Q1 2009 Financial Results April 28, 2009 Exhibit 99.1
Slide 2: Forward-Looking Statements/Additional Notes
2 Forward-Looking Statements/Additional Notes This presentation and our discussion contain forward-looking information and statements including, but not limited to, expected core revenue growth within our Medical business; expected adjusted segment operating margins for the year for our Medical busi
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 98105977
Slide 4: Jeff Black, Chairman and Chief Executive Officer
4 Jeff Black Chairman and Chief Executive Officer
Slide 5: First Quarter Financial Highlights
5 First Quarter Financial Highlights Consolidated core revenue decline of 8% Medical core revenue down 4% Gross Margin excluding special charges of 41.8%, up 110 bps Segment operating margins before special charges of 14.5%, up 100 bps Adjusted Segment Operating Margins 2009 2008 Medical: 20.8% 20.9
Slide 6: First Quarter Strategic Highlights
6 Medical Completed actions in preparation for inspection of Arrow facilities by FDA Arrow integration initiatives on track to deliver $18 to $20 million in pre-tax synergies in 2009 Aerospace Divested 51% ownership interest in Airfoil Technologies International - Singapore Pte. Ltd. ("ATI") for $30
Slide 7: Earnings per Share Excluding Special Charges from Continuing Operations
7 Earnings per Share Excluding Special Charges from Continuing Operations Note: GAAP earnings (loss) per share from continuing operations are as follows for the applicable periods: 2007: ($1.49) 2008: $2.44 2009: $2.85 to $3.25 37% Growth 11% Growth 4% to 14% Growth
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: Q1'09 losses and other charges includes loss on sale of Gauge business of $1.6m, net of tax & integration costs of $0.4m, net of tax Q1'08 losses and other charges includes integration costs of $0.2m, net of tax
Slide 11: Medical Segment
Medical Segment Critical Care Respiratory core revenue decline in North America due to weak flu season and distributor inventory rebalancing Urology core revenue growth in all regions Vascular access core revenue decline in N.A. & EMEA; partially offset by growth in Asia/Latin America Anesthesia cor
Slide 12: Aerospace Segment
12 Cargo Handling Combination of one fewer wide-body unit shipped and lower ship-set sales value drives revenue decline Aftermarket conversions not available due to reduced cargo demand Narrow-body unit volume up 6% over Q1'08 Spares sales down approximately $1M over Q1'08 Overall economic condition
Slide 13: Commercial Segment
13 Marine Revenues continue to decline in weak market (down 34%); difficult Q1'08 comparison Cost containment initiatives help to mitigate volume decline Two plants to be closed by end of second quarter Completed sale of Gauge business Rigging Services Core revenue growth of 1% over Q1'08 Retail vs.
Slide 14: Year-to-Date Adjusted Cash Flow From Continuing Operations
14 Year-to-Date Adjusted Cash Flow From Continuing Operations ($ Millions) Capital Expenditures - $7.5 million Capital Expenditures - $7.0 million Note: Q1'08 Cash Flow from Operations & Free Cash Flow exclude tax payment of $47M related to gain on sale of Automotive & Industrial businesses in Q4'07
Slide 15: Capital Structure
15 Capital Structure ($ Millions) 10/1/2007 12/31/2007 12/31/2008 3/29/2009 Net Debt 2117.6 1482.9 1439.1 1162.6 Net Debt to Total Capital 0.621 0.527 0.536 0.453 Weighted Average Interest Rate 0.0685 0.0686 0.0574 0.059 6.9% 6.9% 5.7% 5.9%
Slide 16: Debt Maturity Schedule
16 2009 2010 2011 2012 2014 and thereafter 6 51.2 247.2 769.7 231.5 Debt Maturity Schedule ($ Millions)
Slide 17: 2009 Outlook
17 Low High Earnings per share from continuing operations available to common shareholders including special charges $2.85 $3.25 Add-back special charges $0.40 $0.30 Earnings per share from continuing operations before special charges $3.25 $3.55 2009 Outlook Cash flow from operations $210 million $
Slide 18: Jeff Black, Chairman and Chief Executive Officer
18 Jeff Black Chairman and Chief Executive Officer
Slide 19: Summary
19 Summary Medical Low to mid-single digit core revenue growth for FY'09 Expect stronger second half in 2009 Adjusted segment operating margins over 20% for the year Continuing to make investments in R&D and sales force initiatives On track to achieve $18 to $20 million of Arrow integration synergie
Slide 20: Question and Answer Session
Question and Answer Session Teleflex
Slide 21: Appendices
Appendices Teleflex
Slide 22: Appendix A - QTD Reconciliation of Medical Operating Profit and Margins
22 Appendix A - QTD Reconciliation of Medical Operating Profit and Margins
Slide 23: Appendix B - QTD Reconciliation of Teleflex Gross Profit and Margins
23 Appendix B - QTD Reconciliation of Teleflex Gross Profit and Margins
Slide 24: Appendix C - QTD Reconciliation of Teleflex Operating Expenses
24 Appendix C - QTD Reconciliation of Teleflex Operating Expenses
Slide 25: Appendix D - Special Charge Income Statement Classification Summary
25 Appendix D - Special Charge Income Statement Classification Summary
Slide 26: Appendix E - QTD Reconciliation of Teleflex Cash Flow from Continuing Operations
26 Appendix E - QTD Reconciliation of Teleflex Cash Flow from Continuing Operations
Slide 27: Appendix F - Net Debt to Total Capital Reconciliation
27 Appendix F - Net Debt to Total Capital Reconciliation ($ Millions) * * = no quarterly installments due until September 30, 2010