Slide 1: Third Quarter 2012 Earnings Conference Call
1 TELEFLEX INCORPORATED THIRD QUARTER 2012 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 77519595
Slide 3: Introductions
3 Introductions Benson Smith Chairman, President and CEO Thomas Powell Senior Vice President and CFO Jake Elguicze Treasurer 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, our expectation that the acquisition of LMA International N.V. will be accretive to 2012 and 2013 adjusted earnings per sha
Slide 5: Third Quarter 2012 Highlights
5 THIRD QUARTER 2012 HIGHLIGHTS
Slide 6: Financial Highlights
6 Financial Highlights Revenue of $368.1 million, up 6.2% constant currency Gross margin of 49.1%, up 70 bps vs. prior year Adjusted operating margins of 16.5%, down 50 bps vs. prior year Adjusted EPS of $1.04, up 4% vs. prior year
Slide 7: Strategic Development Highlights
7 Strategic Development Highlights Marketplace continues to accept pricing initiatives Up 120 bps versus prior year Fifth consecutive quarter of positive year-over-year pricing Investment in research and development paying benefits Research & Development spending reaches 4.0% of revenue New product
Slide 8: Strategic Development Highlights: Acquired LMA International N.V.
8 Acquired LMA International N.V. and affiliates Global market leader in laryngeal masks Strengthens existing Anesthesia franchise Provides access to key clinical U.S. and international call points Further strengthens Group Purchasing Organization relationships Revenues of approximately $132 million
Slide 9: Strategic Development Highlights: Divestiture of OEM Orthopedics
9 Strategic Development Highlights Completed divestiture of OEM Orthopedics business Consistent with strategy to achieve higher revenue growth and expand gross and operating margins Remainder of OEM division will focus on expanding its leadership positions in custom extrusion, catheters, medical dev
Slide 10: Strategic Development Highlights: Mount Holly Closure
10 Strategic Development Highlights Announced the planned closure, and reallocation of operations, of Mount Holly, N.J. manufacturing facility Reduces operational footprint Expected to contribute to future expansion of gross and operating margins
Slide 11: Group Purchasing Organization and Integrated Delivery Network Update
11 Group Purchasing Organization and Integrated Delivery Network Update Awarded 5 GPO contracts during the quarter 2 new awards 3 award renewals Awarded 2 new IDN contracts during the quarter
Slide 12: Third Quarter 2012 Financial Review
12 THIRD QUARTER 2012 FINANCIAL REVIEW
Slide 13: Third Quarter - Financial Results
13 Third Quarter - Financial Results Revenue of $368.1 million Up 1.5% as-reported; up 6.2% constant currency Gross margin of 49.1% Up 70 bps vs. prior year Research & development spending up 20% from prior year Adjusted operating margin of 16.5% Down 50 bps vs. prior year Adjusted EPS of $1.04, up
Slide 14: Third Quarter 2012 Product & Geographic Revenue Review
14 THIRD QUARTER 2012 PRODUCT & GEOGRAPHIC REVENUE REVIEW
Slide 15: Product Revenue Review
15 Product Revenue Review Critical Care Surgical Care Cardiac Care OEM 0.66 0.19 0.05 0.1 Q3'12 Q3'11 Constant Currency Revenue Commentary Critical Care Surgical Care Cardiac Care OEM 0.68 0.18 0.05 0.09 Critical Care: $244.1 million, up 4.5% Surgical Care: $69.6 million, up 10.1% Respiratory - up 9
Slide 16: Segment Revenue Review
16 Segment Revenue Review Americas EMEA Asia OEM 0.46 0.32 0.12 0.1 Q3'12 Q3'11 Constant Currency Revenue Commentary Americas EMEA Asia OEM 0.46 0.35 0.1 0.09 Americas: $169.7 million, up 1.7% EMEA: $116.0 million, up 3.1% Asia: $45.5 million, up 32.1% OEM: $36.9 million, up 13.0% Note: Increases an
Slide 17: 2012 Outlook
2012 OUTLOOK Teleflex:
Slide 18: 2012 Outlook
18 2012 Outlook Constant currency revenue growth range of 6.0% to 7.0% Prior guidance was 4.0% to 6.0% Adjusted earnings per share range of $4.35 to $4.40 Represents growth of between 14% to 15% Prior guidance was $4.25 to $4.45
Slide 19: Question & Answer
JESTION & ANSWER Teleflex:
Slide 20: Appendices
APPENDICES Teleflex:
Slide 21: Appendix A - Reconciliation of Product Constant Currency Revenue Growth
21 Appendix A - Reconciliation of Product Constant Currency Revenue Growth Dollars in Millions
Slide 22: Appendix B - Reconciliation of Segment Constant Currency Revenue Growth
22 Appendix B - Reconciliation of Segment Constant Currency Revenue Growth Dollars in Millions
Slide 23: Appendix C - Reconciliation of Critical Care Product Constant Currency Revenue Growth
23 Appendix C - Reconciliation of Critical Care Product Constant Currency Revenue Growth Dollars in Millions
Slide 24: Appendix D - Reconciliation of Selling, General and Administrative Expenses
24 Appendix D - Reconciliation of Teleflex Selling, General and Administrative Expenses
Slide 25: Appendix E - Reconciliation of Operating Expenses
25 Appendix E - Reconciliation of Teleflex Operating Expenses
Slide 26: Appendix F - Third Quarter Income Statement from Continuing Operations
26 Appendix F - Third Quarter Income Statement from Continuing Operations Dollars in millions, except per share
Slide 27: Appendix G - EPS Reconciliation from Continuing Operations
27 Appendix G - EPS Reconciliation from Continuing Operations In 2012, losses and other charges include approximately $8.4 million, net of tax, or $0.20 per share, related to acquisition costs. In 2011, the Company terminated our interest rate swap that, at the date of termination, had a notional am
Slide 28: Appendix H - Reconciliation of Product Constant Currency Revenue Growth
28 Appendix H - Reconciliation of Product Constant Currency Revenue Growth Dollars in Millions
Slide 29: Appendix I - Reconciliation of Segment Constant Currency Revenue Growth
29 Appendix I - Reconciliation of Segment Constant Currency Revenue Growth Dollars in Millions
Slide 30: Appendix J - Reconciliation of Critical Care Product Constant Currency Revenue Growth
30 Appendix J - Reconciliation of Critical Care Product Constant Currency Revenue Growth Dollars in Millions
Slide 31: Appendix K - Year-to-Date Income Statement from Continuing Operations
31 Appendix K - Year-to-Date Income Statement from Continuing Operations Dollars in millions, except per share
Slide 32: Appendix L - EPS Reconciliation from Continuing Operations
32 Appendix L - EPS Reconciliation from Continuing Operations In 2012, losses and other charges include approximately $8.7 million, net of tax, or $0.22 per share, related to acquisition costs; and ($0.3) million, net of tax, or ($0.01) per share, related to a gain on sale of businesses and assets.
Slide 33: Appendix M - Reconciliation of 2012 Outlook Earnings per Share Guidance
33 Appendix M - Reconciliation of 2012 Outlook Earnings per Share Guidance Note: In 2012, special items include approximately $7.0 million, net of tax, or $0.17 per share related to the acceleration of an interest rate swap; approximately $14.5 million, net of tax, or $0.36 per share related to acqu