Slide 1: Teleflex Incorporated Third Quarter 2013 Earnings Conference Call
TELEFLEX INCORPORATED THIRD QUARTER 2013 EARNINGS CONFERENCE CALL Exhibit 99.1
Slide 2: Conference Call Logistics
Conference Call Logistics The release, accompanying slides, and replay webcast are 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 49689482
Slide 3: Introductions
Benson Smith Chairman, President and CEO Thomas Powell Executive Vice President and CFO Jake Elguicze Treasurer and Vice President of Investor Relations Introductions
Slide 4: 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, our acquisition of Vidacare Corporation and its expected contribution to our 2014 revenue and adjusted earnings per share results; foreca
Slide 5: Third Quarter 2013 Highlights
THIRD QUARTER 2013 HIGHLIGHTS
Slide 6: Third Quarter Highlights
Third Quarter Highlights • Revenue of $413.8 million, up 11.6% constant currency vs. prior year • Adjusted gross margin of 49.7%, up 67 bps vs. prior year • Adjusted operating margins of 17.3%, up 80 bps vs. prior year • Adjusted EPS of $1.33, up 26.7% vs. prior year
Slide 7: Third Quarter Highlights
Third Quarter Highlights • Price initiatives drove 109 bps of top-line growth in Q3 2013 compared to Q3 2012 • EMEA up 180 bps • Americas up 103 bps • Asia Pacific up 69 bps • OEM down 34 bps • Continue to expand GPO & IDN relationships • 9 new agreements (7 IDN; 2 GPO) • 1 GPO agreement renewal
Slide 8: ARROW JACC with Chlorag+ard Technology
First and only long-term antimicrobial and antithrombogenic central venous catheter Designed for the placement of central venous catheters by Vascular Access Specialists Employs Chlorag+ard® Technology as a weapon against thrombosis and infection for up to 30 days, effective against the full spectru
Slide 9: LMA International N.V. and affiliates
• LMA International N.V. and affiliates • Contributed revenue of approximately $34.0 million in Q3 2013 • Integration and performance continues to be ahead of initial expectations Third Quarter Highlights
Slide 10: Strategic Acquisition: Vidacare Company Overview, Strategic Fit, Product
Company Overview Strategic Fit Product Leading provider of intraosseous (IO), or inside the bone, access devices for diagnostic monitoring and therapeutic applications Based in Shavano Park, TX 87 issued and 8 pending patent applications Unique platform technology for immediate vascular access and b
Slide 11: Strategic Acquisition: Vidacare Products
Bone marrow aspirations, biopsies or harvesting Provides safe and rapid access to vertebrae during spinal surgery Expected to contribute $68 to $72 million of Revenue and between $0.10 to $0.15 in Adjusted Earnings Per Share in 2014 Intraosseous Infusion System for immediate vascular access Strategi
Slide 12: Third Quarter 2013 Financial Review
THIRD QUARTER 2013 FINANCIAL REVIEW
Slide 13: Financial Results
Financial Results • Revenue of $413.8 million • Up 12.4% vs. prior year on an as-reported basis • Up 11.6% vs. prior year on a constant currency basis • Adjusted gross margin of 49.7% • Up 67 bps vs. prior year • Research & development spending up 5.9% from prior year • Adjusted operating margin of
Slide 14: Third Quarter Product & Segment Revenue Review
THIRD QUARTER PRODUCT & SEGMENT REVENUE REVIEW
Slide 15: Product Revenue Review
Q3’13 Q3’12 Constant Currency Revenue Commentary Product Revenue Review 70% 18% 4% 8% Critical Care Surgical Care Cardiac Care OEM 66% 19% 5% 10% Critical Care Surgical Care Cardiac Care OEM Critical Care: $289.3 million, up 17.9% Surgical Care: $73.2 million, up 3.9% Anesthesia – up 66.9% Urology –
Slide 16: Segment Revenue Review
Q3’13 Q3’12 Constant Currency Revenue Commentary Segment Revenue Review 47% 32% 13% 8% Americas EMEA Asia OEM 46% 32% 12% 10% Americas EMEA Asia OEM Americas: $192.5 million, up 13.8% EMEA: $132.3 million, up 9.6% Asia: $55.3 million, up 25.2% OEM: $33.7 million, down 9.4% Note: Increases and decrea
Slide 17: 2013 Financial Outlook
2013 FINANCIAL OUTLOOK
Slide 18: Financial Outlook
Financial Outlook • Constant currency revenue growth of between 8.5% to 10% • Previously provided constant currency revenue growth range of 10% to 12% • Adjusted gross margin of approximately 49.5% to 50% • Previously provided adjusted gross margin range of 50% to 51% • Including impact of medical d
Slide 19: Question & Answer
QUESTION & ANSWER
Slide 20: Appendices
APPENDICES
Slide 21: Appendix A – Reconciliation of Product Constant Currency Revenue Growth
Appendix A – Reconciliation of Product Constant Currency Revenue Growth Dollars in Millions September 29, 2013 September 30, 2012 Constant Currency Currency Total Critical Care 289.3 $ 243.7 $ 17.9% 0.8% 18.7% Surgical Care 73.2 69.6 3.9% 1.3% 5.2% Cardiac Care 17.6 17.9 (1.6%) 0.0% (1.6%) OEM 33.7
Slide 22: Appendix B – Reconciliation of Segment Constant Currency Revenue Growth
Appendix B – Reconciliation of Segment Constant Currency Revenue Growth Dollars in Millions September 29, 2013 September 30, 2012 Constant Currency Currency Total Americas 192.5 $ 169.6 $ 13.8% (0.3%) 13.5% EMEA 132.3 116.0 9.6% 4.4% 14.0% Asia 55.3 45.6 25.2% (4.0%) 21.2% OEM 33.7 36.9 (9.4%) 0.9%
Slide 23: Appendix C – Reconciliation of Critical Care Product Constant Currency Revenue Growth
Appendix C – Reconciliation of Critical Care Product Constant Currency Revenue Growth Dollars in Millions September 29, 2013 September 30, 2012 Constant Currency Currency Total Vascular & Interventional Access 112.6 $ 108.1 $ 4.9% (0.7%) 4.2% Anesthesia 91.0 54.0 66.9% 1.7% 68.6% Respiratory 42.9 43
Slide 24: Appendix D – Third Quarter Income Statement from Continuing Operations
Appendix D – Third Quarter Income Statement from Continuing Operations Dollars in millions, except per share Q3'13 Q3'12 Revenues 413.8 $ 368.1 $ 12.4% Adjusted gross profit 205.8 180.6 14.0% Adjusted gross margin 49.7% 49.1% Adjusted selling, general and administrative expenses 118.5 105.0 12.8% Re
Slide 25: Appendix G – Reconciliation of 2013 Outlook Earnings per Share Guidance
Appendix G – Reconciliation of 2013 Outlook Earnings per Share Guidance Low High Diluted earnings per share attributable to common shareholders $3.45 $3.60 Restructuring and impairment charges, net of tax $0.50 $0.50 Intangible amortization expense, net of tax $0.75 $0.75 Amortization of debt discou
Slide 26: Appendix H – Reconciliation of Teleflex Selling, General and Administrative Expenses
Appendix H – Reconciliation of Teleflex Selling, General and Administrative Expenses September 29, 2013 September 30, 2012 Teleflex Selling, General and Administrative Expenses as Reported 115,228 $ 114,878 $ Add: Contingent Consideration Income 4,394 - Less: Acquisition and Severance Costs (1,135)
Slide 27: Appendix I – Reconciliation of Teleflex Gross Profit
Appendix I – Reconciliation of Teleflex Gross Profit September 29, 2013 September 30, 2012 Teleflex Gross Profit as Reported 203,992 $ 180,567 $ Add: Acquisition Costs - Add: North American Distribution Center and Severance Costs - Adjusted Teleflex Gross Profit 205,790 $ 180,567 $ $ thousands Three