Slide 1: Teleflex Incorporated Fourth Quarter and Full Year 2005 Earnings Conference Call
Teleflex Incorporated Fourth Quarter and Full Year 2005 Earnings Conference Call Exhibit 99.1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and our discussion contain forward-looking information and statements including, but not limited to, such matters as business strategies, market trends, future financial performance, forecast of diluted earnings per share, forecast of cash flow from opera
Slide 3: Jeff Black, President and Chief Executive Officer
Jeff Black President and Chief Executive Officer
Slide 4: Overview of 2005
Overview of 2005 Major accomplishments in a record year: Integrated HudsonRCI Executed restructuring program Continued topline growth Realigned business portfolio Instituted stock buyback Repatriated $300 million cash
Slide 5: Teleflex Today
Teleflex Today Manufacturing and distribution integrated 100 principal operations (down from 130 pre-restructuring) Enhanced competitive positioning Global footprint More efficient manufacturing and distribution 30% of revenues manufactured in low cost environments Loss-making businesses eliminated
Slide 6: 2005 Financial Results at a Glance
2005 Financial Results at a Glance Continuing operations deliver multiple financial records: Revenues Operating profit Operating cash flow Asset velocity A solid balance sheet: Incremental debt for Hudson acquisition substantially repaid $300 million cash repatriated A commitment to return capital t
Slide 7: Teleflex Moving Forward
Teleflex Moving Forward Enhance global presence Expand in new markets Leverage cost-effective manufacturing platforms Invest in new product development Focused on core growth Expand through acquisitions, partnerships New products, new growth platforms, new markets Continue to refine manufacturing pl
Slide 8: Martin Headley, Executive Vice President and Chief Financial Officer
Martin Headley Executive Vice President and Chief Financial Officer
Slide 9: Three and Twelve Month Summary of Continuing Operations
Three and Twelve Month Summary of Continuing Operations
Slide 10: Summary Financial Performance - Q4 2005
Summary Financial Performance - Q4 2005
Slide 11: Summary Financial Performance - 2005
Summary Financial Performance - 2005
Slide 12: Q4 2005 Results Medical Segment
Q4 2005 Results Medical Segment Core revenues flat Dispositions OEM customer delays Delivery delays related to distribution center consolidation Operating profits Down 2.8% excluding lag and currency impact Distribution center consolidation * Excluding lag accounting and currency impact
Slide 13: Q4 2005 Results Commercial Segment
Q4 2005 Results Commercial Segment Revenues up 1% 4% core growth Auto and industrial up New programs Impact of currency (3%) Operating profits up 3% Improved productivity and impact of restructuring offset by product mix
Slide 14: Q4 2005 Results Aerospace Segment
Q4 2005 Results Aerospace Segment - Revenues up 18% 19% core growth Repair products and services Cargo loading systems (both wide body and containers) Increased sales of precision- machined components for aircraft engines Operating profits Solid execution across the board Elimination of loss-making
Slide 15: Teleflex: Powerful Cash Flow Generation
Teleflex: Powerful Cash Flow Generation Amounts exclude businesses which are reported as discontinued operations. These discontinued operations have not historically been separately identified, consolidated, and audited as presented in this schedule. Operating cash flow up 32% in 2005 (49% since 200
Slide 16: Asset Velocity
Asset Velocity Asset velocity improvement continues, ends year at 15.5% Note: Asset velocity is working capital (excluding cash, debt, and deferred taxes) as a percentage of annualized quarterly sales
Slide 17: Teleflex Continues to Return Cash to Shareholders
Teleflex Continues to Return Cash to Shareholders Stock Buyback Program: Announced 7/26/05 Shares repurchased through year end: 690,100 shares $46.5 million invested $93.5 million remains authorized
Slide 18: Strong Balance Sheet for Future Growth
Strong Balance Sheet for Future Growth
Slide 19: 2006 Guidance
2006 Guidance Diluted earnings per share from continuing operations before restructuring charges and options expense: $4.05 to $4.25 Non-cash expense related to accounting for stock options of $7 to $8 million, or 12 to 14 cents per fully diluted share Restructuring charges: $18 to $23 million, or 2
Slide 20: 2006 Objectives
Finish medical restructuring Begin IT platform consolidation program Energize R&D initiatives New technologies New geographies New products Control costs Continue solid execution in Aerospace Segment Continue to return capital to shareholders through stock buyback program 2006 Objectives
Slide 21: Question and Answer Session
Question and Answer Session
Slide 22: Appendix A - Reconciliation of Net Debt to Total Capital Calculation
Appendix A - Reconciliation of Net Debt to Total Capital Calculation
Slide 23: Appendix B - Reconciliation of Free Cash Flow
Appendix B - Reconciliation of Free Cash Flow