Slide 1: Teleflex Incorporated Q2 2009 Financial Results
Teleflex Incorporated Q2 2009 Financial Results July 27, 2009 Exhibit 99.1
Slide 2: 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, forecasted investment in Medical Segment research and development for 2009; an expected increase in delivery of cargo systems by our Aero
Slide 3: 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 29581742
Slide 4: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 5: Second Quarter Financial Highlights
Second Quarter Financial Highlights Medical core revenue flat, up 5% sequentially from Q1'09 Consolidated core revenue decline of 8% Gross Margin excluding special charges of 42.7%, up 80 bps Segment operating margins before special charges of 15.0%, up 60 bps Adjusted Segment Operating Margins 2009
Slide 6: Year-to-Date Financial Highlights
Year-to-Date Financial Highlights Consolidated core revenue decline of 8% principally from Aerospace and Commercial Segments Gross Margin excluding special charges of 42.3%, up 100 bps Segment operating margins before special charges of 14.7%, up 80 bps Adjusted Segment Operating Margins 2009 2008 M
Slide 7: Invest to Grow
Invest to Grow ($ in Millions) Goal: 5% - 6% of revenue within 3 to 4 years Note: excludes $21.5M and $5M of FDA remediation expense in 2008 & 2009, respectively
Slide 8: Clinical Education
Clinical Education yy neg edi
Slide 9: Kevin Gordon, Executive Vice President and Chief Financial Officer
Kevin Gordon Executive Vice President and Chief Financial Officer
Slide 10: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations
Slide 11: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations Note: Q2'09 restructuring & impairment charges, include goodwill & intangible impairments of approx $33.3m, net of tax Q2'09 losses and other charges include integration costs of $0.3m, net of tax Q2'09 tax adjustments represent a benefit from the net r
Slide 12: Year-to-Date Summary from Continuing Operations
Year-to-Date Summary from Continuing Operations
Slide 13: Year-to-Date Summary from Continuing Operations
Year-to-Date Summary from Continuing Operations Note: Q2'09 year-to-date restructuring & impairment charges, include goodwill & intangible impairments of approx $33.3m, net of tax Q2'09 year-to-date losses and other charges includes loss on sale of Gauge business of $1.6m, net of tax & integration c
Slide 14: Medical Segment
Medical Segment Critical Care Anesthesia core revenue growth in N.A. & EMEA Results of focused sales force in N.A. Vascular access core revenue growth in N.A. with progress in PICC products Respiratory core revenue growth in EMEA & Asia/Latin America more than offset by weakness in North America Uro
Slide 15: Aerospace Segment
Cargo Handling Decline in wide-body sales due to lower ship-set sales value of A330 systems Aftermarket conversions not available due to reduced cargo demand and parked aircraft Narrow-body unit volume down 32% from record Q2'08 Spares sales down approximately $5M from Q2'08 Overall economic conditi
Slide 16: Commercial Segment
Commercial Segment Marine Revenues down versus prior year quarter; up sequentially Aftermarket core revenue flat vs. Q2'08 OEM core revenue down significantly Gauge divestiture impacts revenue by approx. $4M Cost containment initiatives help to mitigate volume decline and drive sequential margin imp
Slide 17: Year-to-Date Adjusted Cash Flow From Continuing Operations
Year-to-Date Adjusted Cash Flow From Continuing Operations ($ Millions) Capital Expenditures - $16.8 million Capital Expenditures - $15.1 million Note: 2008 & 2009 Cash Flow from Operations & Free Cash Flow exclude tax payments of $90.2M & $97.5M, respectively related to gain on sale of businesses
Slide 18: 2009 Outlook
Low High Earnings per share from continuing operations available to common shareholders including special charges $2.35 $2.60 Add-back special charges $1.05 $1.00 Earnings per share from continuing operations before special charges $3.40 $3.60 2009 Outlook Adjusted cash flow from continuing operatio
Slide 19: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 20: Summary
Summary Medical Expect stronger revenues in second half of 2009 Low single-digit core revenue growth for FY'09 Adjusted segment operating margins approximately 21% for the year Continuing to make investments in R&D and sales force initiatives On track to achieve $18 to $20 million of Arrow integrati
Slide 21: Question and Answer Session
Question and Answer Session
Slide 22: Appendices
Appendices
Slide 23: Appendix A - Reconciliation of Medical Operating Profit and Margins
Appendix A - Reconciliation of Medical Operating Profit and Margins
Slide 24: Appendix B - Reconciliation of Teleflex Gross Profit and Margins
Appendix B - Reconciliation of Teleflex Gross Profit and Margins
Slide 25: Appendix C - Reconciliation of Teleflex Operating Expenses
Appendix C - Reconciliation of Teleflex Operating Expenses
Slide 26: Appendix D - Special Charge Income Statement Classification Summary
Appendix D - Special Charge Income Statement Classification Summary
Slide 27: Appendix E - Reconciliation of Teleflex Cash Flow from Continuing Operations
Appendix E - Reconciliation of Teleflex Cash Flow from Continuing Operations
Slide 28: Appendix F - Net Debt to Total Capital Reconciliation
Appendix F - Net Debt to Total Capital Reconciliation ($ Millions) * * = no quarterly installments due under bank agreement until September 30, 2010