Slide 1: Third Quarter 2011 Earnings Conference Call
1 TELEFLEX INCORPORATED THIRD QUARTER 2011 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 62497743
Slide 3: Introductions
3 Introductions Benson SmithChairman, President and CEO Randy MeierExecutive Vice President and CFO Jake ElguiczeTreasurer 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, the expected launch of the Taut universal balloon open access port in the fourth quarter of 2011; forecasted 2011 revenue,
Slide 5: Third Quarter 2011 Highlights
5 THIRD QUARTER 2011 HIGHLIGHTS
Slide 6: Financial Highlights
6 Financial Highlights Revenue of $371.9 million, up 3.2% constant currencyGross margin of 47.9%, up 90 bps sequentiallyOperating margin of 17.0%, up 170 bps sequentiallyAdjusted EPS of $1.03, up 4% vs. prior year
Slide 7: Strategic Development Highlights
7 Strategic Development Highlights Recently launched pricing initiatives performing as expectedAdoption of VasoNova VPS in U.S. market continues Definitive agreement reached to sell Aerospace assets for $280 million
Slide 8: Product Development Update - Critical Care
8 Product Development Update Critical CareArrowADVANTAGENew radio-opaque PICC catheter with slightly enlarged lumensAccommodates VasoNova VPS styletStimuQuick EchoLatest addition to our clinician-inspired line of single-shot peripheral nerve block needlesTargeted at Anesthesiologists and CRNAs that
Slide 9: Product Development Update - Surgical Care
9 Product Development Update Surgical Care Taut Cone Access PortExpands the access line to deliver primary port access for initial insertion during laparoscopic surgery with enhanced visualization and optimal length Low-flow Pleur EvacChest drainage line upgrade to provide new low-flow technology to
Slide 10: Third Quarter - Group Purchasing Organization Update
10 Third Quarter - Group Purchasing Organization Update Group Purchasing Organization ContractsAwarded 11 GPO contracts, including 3 new awards 6 in Respiratory Therapy 2 in Anesthesia 1 in Vascular Access 1 in Cardiac Care 1 in Dialysis Access Provides additional access and sustainability of future
Slide 11: Third Quarter 2011 Financial Review
11 THIRD QUARTER 2011 FINANCIAL REVIEW
Slide 12: Third Quarter - Financial Results
12 Third Quarter - Financial Results Revenue of $371.9 millionUp 7.8%Up 3.2% constant currencyGross margin of 47.9%Down 40 bps vs. prior yearUp 90 bps sequentiallyResearch & development spending up 17% from prior year to 3.3% of revenueOperating margin of 17.0%Up 120 bps vs. prior yearUp 170 bps seq
Slide 13: Third Quarter 2011 Product & Geographic Revenue Review
13 THIRD QUARTER 2011 PRODUCT & GEOGRAPHIC REVENUE REVIEW
Slide 14: Product Revenue Review
14 Product Revenue Review Critical Care Surgical Care Cardiac Care OEM 0.66 0.18 0.05 0.11 Q3'11 Q3'10 Constant Currency Revenue Commentary Critical Care Surgical Care Cardiac Care OEM 0.66 0.18 0.05 0.11 Critical Care: $245.1 million, up 3.6% Surgical Care: $66.0, up 1.9%Vascular access - up 6.5%Re
Slide 15: Geographic Revenue Review
15 Geographic Revenue Review North America EMEA Asia Pacific Latin America Japan OEM 0.41 0.34 0.07 0.04 0.03 0.11 Q3'11 Q3'10 Constant Currency Revenue Commentary North America EMEA Asia Pacific Latin America Japan OEM 0.44 0.32 0.06 0.04 0.03 0.11 North America: $152.5 million, up 1.4% EMEA: $127.
Slide 16: 2011 Outlook
2011 OUTLOOK Teleflex:
Slide 17: 2011 Outlook
w 2011 Outlook Revenue Constant Curreney Growth Adjusted earnings per share Cash flow from operations Current 2011 Outlook $1.51 billion to $1.53 billion 30% t0 35% $4.05 to $4.10 $150 to $180 million Prior 2011 Outlook $1.44 billion to $1.47 billion 25% 103.5% $4.05 to $4.25 $180 to $210 million fe
Slide 18: Closing Remarks
CLOSING REMARKS. Teleflex:
Slide 19: Summary
19 Summary Good performance in third quarter, despite difficult macro environmentExpect continued top-line constant currency growth in Q4'11Expect gross and operating margins to expand from Q3'11 levels
Slide 20: Question & Answer
QUESTION & ANSWER Teleflex:
Slide 21: Appendices
APPENDICES Teleflex:
Slide 22: Appendix A - Reconciliation of Teleflex Selling, General and Administrative Expenses
22 Appendix A - Reconciliation of Teleflex Selling, General and Administrative Expenses
Slide 23: Appendix B - Reconciliation of Teleflex Operating Expenses
23 Appendix B - Reconciliation of Teleflex Operating Expenses
Slide 24: Appendix C - Special Charge Income Statement Classification Summary
24 Appendix C - Special Charge Income Statement Classification Summary
Slide 25: Appendix D - Quarter & Year-to-Date Reconciliation of Medical Constant Currency Revenue Growth
25 Appendix D - Quarter & Year-to-Date Reconciliation of Medical Constant Currency Revenue Growth
Slide 26: Appendix E - Third Quarter Income Statement from Continuing Operations
26 Appendix E - Third Quarter Income Statement from Continuing Operations Amounts in Millions, except per share
Slide 27: Appendix F - Third Quarter EPS Reconciliation from Continuing Operations
27 Appendix F - Third Quarter EPS Reconciliation from Continuing Operations In 2010, losses and other charges include approximately $20.9 million, net of tax, or $0.52 per share, related to the loss on extinguishment of debt.
Slide 28: Appendix G - Year-to-Date Cash Flow Summary
28 Appendix G - Year-to-Date Cash Flow Summary ($ in Millions)
Slide 29: Appendix H - Reconciliation of 2011 Outlook Earnings per Share Guidance
29 Appendix H - Reconciliation of 2011 Outlook Earnings per Share Guidance
Slide 30: Appendix I - Quarter-to-Date Reconciliation of Critical Care Product Constant Currency Revenue Growth
30 Appendix I - Quarter-to-Date Reconciliation of Critical Care Product Constant Currency Revenue Growth
Slide 31: Appendix J - Quarter-to-Date Reconciliation of Regional Constant Currency Revenue Growth
31 Appendix J - Quarter-to-Date Reconciliation of Regional Constant Currency Revenue Growth