Slide 1: Teleflex Incorporated Second Quarter 2011 Earnings Conference Call
1 TELEFLEX INCORPORATED SECOND QUARTER 2011 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 66816668
Slide 3: Introductions
3 Introductions Benson Smith Chairman, President and CEO Randy Meier Executive 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 certain costs that impacted our operating margin results in the first half of 2011 will not re-occur i
Slide 5: Second Quarter 2011 Highlights
5 SECOND QUARTER 2011 HIGHLIGHTS
Slide 6: Second Quarter - Financial Highlights
6 Second Quarter - Financial Highlights Revenue of $391.3 million, up 4% constant currency Operating margin of 15.3% Adjusted EPS of $0.94
Slide 7: Second Quarter - Strategic Development Highlights
7 Second Quarter - Strategic Development Highlights Completed portfolio transformation to pure-play medical technology Resolved FDA Corporate Warning Letter Completed re-alignment of North America from regional to business unit organizational structure Completed $250 million senior subordinated note
Slide 8: Second Quarter - New Product Introductions
8 Second Quarter - New Product Introductions StimPod Nerve Stimulator Allows clinicians to confirm accurate needle or catheter position during peripheral nerve blocks Auto-sensing nerve "smart cable" Monitoring function allows clinicians to evaluate the effect of neuromuscular blocking agents during
Slide 9: Second Quarter - Group Purchasing Organization Update
9 Second Quarter - Group Purchasing Organization Update Group Purchasing Organization Contracts Awarded three new GPO contracts Received two GPO contract extensions Contracts for a combination of vascular access, surgical and anesthesia products
Slide 10: Second Quarter 2011 Financial Review
10 SECOND QUARTER 2011 FINANCIAL REVIEW
Slide 11: Second Quarter - Financial Results
11 Second Quarter - Financial Results Revenue of $391.3 million Up 9.2% Up 4.0% constant currency Gross margin of 47.0% Down 160 bps vs. prior year Up 50 bps sequentially Research & development spending up 21% to 3.2% of revenue Operating margin of 15.3% Impacted by costs not expected to re-occur in
Slide 12: Second Quarter 2011 Product & Geographic Revenue Review
12 SECOND QUARTER 2011 PRODUCT & GEOGRAPHIC REVENUE REVIEW
Slide 13: Product Revenue Review
13 Product Revenue Review Critical Care Surgical Care Cardiac Care OEM 0.65 0.18 0.06 0.11 Q2'11 Q2'10 Constant Currency Revenue Commentary Critical Care Surgical Care Cardiac Care OEM 0.65 0.19 0.05 0.11 Critical Care: $253.6 million, up 3.2% Surgical Care: $72.9, up 4.3% Vascular access - up 1.9%
Slide 14: Geographic Revenue Review
14 Geographic Revenue Review North America EMEA Asia Pacific Latin America Japan OEM 0.4 0.35 0.07 0.04 0.03 0.11 Q2'11 Q2'10 Constant Currency Revenue Commentary North America EMEA Asia Pacific Latin America Japan OEM 0.43 0.33 0.06 0.04 0.03 0.11 North America: $156.5 million, up 0.4% EMEA: $137.8
Slide 15: 2011 Outlook
2011 OUTLOOK Teleflex:
Slide 16: 2011 Outlook
6 2011 Outlook Revenue Constant Currency Growth Adjusted earnings per share Cash flow from operations Current 2011 Outlook $1.44 billion to $1.47 billion 2.5% 103.5% $4.08 to $4.25 $180 to $210 million Teleflex:
Slide 17: Closing Remarks
CLOSING REMARKS Teleflex:
Slide 18: Summary
18 Summary Good start to 2011 Expect continued top-line constant currency growth in 2H'11 Gross and operating margins to expand from 1H'11 levels Committed to the achievement of "The High Fives"
Slide 19: Question & Answer
ESTION & ANSWER Teleflex:
Slide 20: Appendices
APPENDICES Teleflex:
Slide 21: Appendix A - Reconciliation of Teleflex Selling, General and Administrative Expenses
21 Appendix A - Reconciliation of Teleflex Selling, General and Administrative Expenses
Slide 22: Appendix B - Reconciliation of Teleflex Operating Expenses
22 Appendix B - Reconciliation of Teleflex Operating Expenses
Slide 23: Appendix C - Special Charge Income Statement Classification Summary
23 Appendix C - Special Charge Income Statement Classification Summary
Slide 24: Appendix D - Quarter & Year-to-Date Reconciliation of Medical Constant Currency Revenue Growth
24 Appendix D - Quarter & Year-to-Date Reconciliation of Medical Constant Currency Revenue Growth
Slide 25: Appendix E - Second Quarter Income Statement from Continuing Operations
25 Appendix E - Second Quarter Income Statement from Continuing Operations Amounts in Millions, except per share
Slide 26: Appendix F - Second Quarter EPS Reconciliation from Continuing Operations
26 Appendix F - Second Quarter EPS Reconciliation from Continuing Operations In 2011, losses and other charges include approximately $0.5 million, net of tax, or $0.01 per share, related to the loss on extinguishment of debt. The tax adjustment represents a net benefit resulting from the resolution
Slide 27: Appendix G - Year-to-Date Cash Flow Summary
27 Appendix G - Year-to-Date Cash Flow Summary ($ in Millions)
Slide 28: Appendix H - Reconciliation of 2011 Outlook Earnings per Share Guidance
28 Appendix H - Reconciliation of 2011 Outlook Earnings per Share Guidance
Slide 29: Appendix I - Quarter-to-Date Reconciliation of Critical Care Product Constant Currency Revenue Growth
29 Appendix I - Quarter-to-Date Reconciliation of Critical Care Product Constant Currency Revenue Growth
Slide 30: Appendix J - Quarter-to-Date Reconciliation of Regional Constant Currency Revenue Growth
30 Appendix J - Quarter-to-Date Reconciliation of Regional Constant Currency Revenue Growth