Slide 1: Teleflex Incorporated Q3 2007 Financial Results
Teleflex Incorporated Q3 2007 Financial Results November 1, 2007 Exhibit 99.1
Slide 2: Conference Call Logistics
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 55450271
Slide 3: Forward-Looking Statements/Additional Notes
Forward-Looking Statements/Additional Notes 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 cas
Slide 4: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 5: Strategic Portfolio Highlights
Strategic Portfolio Highlights Teleflex Medical Teleflex Commercial Teleflex Aerospace Commercial Announced agreement to divest global automotive and industrial businesses in $560 million cash transaction Medical Expanded Medical business to $1.4 billion with completion of Arrow International acquis
Slide 6: Third Quarter Highlights
Third Quarter Highlights Positive momentum on portfolio and strategic initiatives Solid revenue and earnings growth Core growth in all segments Strong cash flow from operations Secured financing for Arrow acquisition in line with our original expectations Successful launch of new IT system in North
Slide 7: Third Quarter Business Dynamics
Third Quarter Business Dynamics Teleflex Medical Teleflex Commercial Teleflex Aerospace Commercial Marine aftermarket/international sales up in down market Acquisition expands rigging services into new markets Downturn in NA truck market impacts APU product lines International truck and bus remain s
Slide 8: Teleflex Fourth Quarter Objectives
Teleflex Fourth Quarter Objectives Complete automotive and industrial business divestiture Utilize net proceeds from acquisition to pay-down debt Execute on Arrow International integration activities Accelerate regulatory compliance program to respond to Arrow FDA corporate warning letter Realize be
Slide 9: Kevin Gordon, Executive Vice President and Chief Financial Officer
Kevin Gordon Executive Vice President and Chief Financial Officer
Slide 10: Financial Highlights From Continuing Operations
Financial Highlights From Continuing Operations ($ millions, except per share data) Q3 2007 Nine Mos. 2007 Revenues $656 + 8% 3% Core growth $2,003 + 8% 3% core growth Gross margins 29.5% - - 30bps 30.7% + 70bps GAAP income (loss) from continuing operations ($57) DEPS ($1.44) $29 DEPS $0.74 Adjusted
Slide 11: Cash Repatriation and Related Tax Charge
Cash Repatriation and Related Tax Charge Q3 repatriated $197 million in cash to fund Arrow acquisition: Q3'07 cash repatriated $197M Tax cash cost ~$6M Deferred tax asset reduction ~$26M Future requirements to repatriate foreign cash to repay U.S. debt: Deferred tax liability ~$58M Total Q3 tax char
Slide 12: 3Q and YTD Cash Flow From Continuing Operations
3Q and YTD Cash Flow From Continuing Operations 3 Mos 9 Mos 2006 79.1 200.4 2007 73.7 208 Trailing 12 month operating cash flow of $330 million
Slide 13: Commercial Segment
Commercial Segment Automotive and Industrial: International truck market strength Automotive seasonally weak Customer price reductions in auto Currency impact in Slovakia Continuing Commercial Businesses: Marine aftermarket and international sales strength Acquisition expands rigging services in new
Slide 14: Aerospace Segment
Aerospace Segment Repair Products and Services: Solid sales growth Increase in replacement vs. repairs impacts margins Restructuring/cost savings Cargo Handling: Delivered more wide body cargo systems for production and special freighters Aftermarket spares revenue up Containers/actuators decline Pr
Slide 15: Medical Segment
Medical Segment European Markets: Airway Mgmt, urology sales strong in major markets North American Markets: Respiratory care, airway management sales up Some recovery in surgical sales Acquisitions strength Asia, Canada, Latin America: Sales increase but delays in registration in China Successful I
Slide 16: Arrow International - Recent Financial Results
Arrow International - Recent Financial Results Source: Year-to-date May-07 results per Arrow International SEC filings; 3 Mos Aug-07 data per Arrow Management Special charges in 3 Mos Aug-07 relate primarily to costs associated with sale of the business, including professional fees and acceleration
Slide 17: Final Debt Structure - Post Arrow Acquisition
Final Debt Structure - Post Arrow Acquisition
Slide 18: Outlook
Outlook Arrow International: 4Q 2007 Integration and other charges create dilutive impact to 4Q 2008 Dilutive on GAAP Basis Arrow margins and overall Medical margins ~ 20% by year end Target synergies of $30 million 2009 Accretive on a GAAP basis Target synergies of $50 to $60 million 2010 Target sy
Slide 19: Summary
Summary Teleflex Medical Teleflex Commercial Teleflex Aerospace Redefining the portfolio to increase margins, reduce cyclicality and market risk Significant progress on strategic initiatives Achievable goals and targets for integration activity Capitalize on global presence, strong brands, establish
Slide 20: Question and Answer Session
Question and Answer Session
Slide 21: Appendices
Appendices
Slide 22: Appendix A - Reconciliation of Summary Financial Performance - Q3 2007
Appendix A - Reconciliation of Summary Financial Performance - Q3 2007
Slide 23: Appendix B - Reconciliation of Summary Financial Performance - Year-to-Date 2007
Appendix B - Reconciliation of Summary Financial Performance - Year-to-Date 2007
Slide 24: Appendix C - Three Month Summary from Continuing Operations
Appendix C - Three Month Summary from Continuing Operations
Slide 25: Appendix D - Year-to-Date Summary from Continuing Operations
Appendix D - Year-to-Date Summary from Continuing Operations