Slide 1: Teleflex Incorporated Q3 2008 Financial Results
Teleflex Incorporated Q3 2008 Financial Results October 28, 2008 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, such matters as expected core revenue growth, synergies from acquisitions, operating margins and product deliveries; expectations with re
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 25612541
Slide 4: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 5: First Nine Months Highlights
First Nine Months Highlights Solid progress on 2008 goals as outlined in January: Benefiting from portfolio changes in 2007 Segment operating margins before special charges in the mid-teens Medical adjusted operating margins in the 20% range Improvement in Commercial and Aerospace margins Low to mid
Slide 6: Third Quarter Financial Highlights
Third Quarter Financial Highlights Strong performance from continuing operations: Sales increase 30% driven by acquisition EPS excluding special charges of $1.11 - up 41% Segment operating margins before special charges of 16.2%, up 350 bps Adjusted Segment Operating Margins Medical margins: 20.0% A
Slide 7: Strategic Highlights
Strategic Highlights Medical FDA compliance program continues Arrow integration initiatives on track to deliver up to $40 million in pre-tax synergies in 2008 Aerospace Benefiting from investments in new technologies for engine repairs Continue to invest in engineering capacity for new cargo system
Slide 8: Kevin Gordon, Executive Vice President and Chief Financial Officer
Kevin Gordon Executive Vice President and Chief Financial Officer
Slide 9: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations
Slide 10: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations Note: Q3'08 (gains)/losses and other charges includes integration costs of $1,620, net of tax
Slide 11: Year-to-Date Summary from Continuing Operations
Year-to-Date Summary from Continuing Operations
Slide 12: Year-to-Date Summary from Continuing Operations
Year-to-Date Summary from Continuing Operations Note: Year-to-date Q3'08 (gains)/losses and other charges includes integration costs of $4,184, net of tax
Slide 13: Medical Segment
Medical Segment Note: Year-to-date Operating Profit excludes $6.9M inventory step-up and $5.9M integration charges Strongest sales growth in Europe, Asia and Latin America Sales in North America decline SAP pull-forward in Q3'07 impacts sales by approximately $5 million FDA remediation spending of a
Slide 14: Medical Segment
Medical Segment Critical Care Arrow adds revenues of $114 million Vascular access sales growth in North America, Asia & Latin America - driven by PICC, specialty catheters Anesthesia & Urology sales growth in EMEA, Asia & Latin America Respiratory sales growth in Asia & Latin America Surgical Sales
Slide 15: Aerospace Segment
Cargo Handling Aftermarket spare & repair sales near record levels Narrow-body unit volume up > 50% Nordisk acquisition adds $14M and $41M to Q3 and year-to-date revenues, respectively Airbus 330/340 system deliveries accelerated in 2008 enhance core revenue growth First 747-8 to ship end of 2008 Re
Slide 16: Commercial Segment
Marine Revenues decline on weak markets Cost containment initiatives underway to mitigate volume decline Rigging Services Core growth of 9% Margin improvement due to mix Power Systems Sequential sales volume improvement drives income for the quarter Truck and rail APU order backlog strong in Q4'08 a
Slide 17: Year-to-Date Cash Flow From Continuing Operations
Year-to-Date Cash Flow From Continuing Operations ($ Millions) Capital Expenditures - $30.2 million; Dividends - $36.3 million Capital Expenditures - $28.3 million; Dividends - $39.6 million Note: Q3'08 Year-to-Date Cash Flow from Operations excludes tax payments of $90M related to gain on sale of A
Slide 18: Capital Structure
Capital Structure ($ Millions) Q4'07 Q1'08 Q2'08 Q3'08 Total Debt 1684.3 1681.8 1646 1578.3 % of Net Debt to Total Capital 0.527 0.53 0.525 0.517
Slide 19: Debt Maturity Schedule
Remaining 2008 2009 2010 2011 2012 2013 and thereafter 38.8 103.5 102.2 247.2 860.1 226 Debt Maturity Schedule ($ Millions)
Slide 20: 2008 Outlook
Current Estimate Low Current Estimate High Earnings per share from continuing operations including special charges $3.38 $3.51 Addback special charges1 $0.52 $0.49 Earnings per share from continuing operations before special charges $3.90 $4.00 2008 Outlook Adjusted operating cash flow of approximat
Slide 21: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 22: Outlook
Outlook Medical core revenue growth of low-to-mid single digits for the year Arrow integration on track to achieve 2008 synergies up to $40 million Medical operating margins over 20% for the year Cargo systems wide-body delivery schedule ramps in 4Q; tempered by impact of Boeing strike Cautious on C
Slide 23: Question and Answer Session
Question and Answer Session Teleflex
Slide 24: Appendices
Appendices Teleflex
Slide 25: Appendix A - QTD & YTD Reconciliation of Medical Operating Profit and Margins
Appendix A - QTD & YTD Reconciliation of Medical Operating Profit and Margins
Slide 26: Appendix B - QTD & YTD Reconciliation of Teleflex Gross Profit and Margins
Appendix B - QTD & YTD Reconciliation of Teleflex Gross Profit and Margins
Slide 27: Appendix C - QTD & YTD Reconciliation of Teleflex Operating Expenses
Appendix C - QTD & YTD Reconciliation of Teleflex Operating Expenses
Slide 28: Appendix D - Special Charge Income Statement Classification Summary
Appendix D - Special Charge Income Statement Classification Summary
Slide 29: Appendix E - QTD & YTD Reconciliation of Teleflex Cash Flow from Operations
Appendix E - QTD & YTD Reconciliation of Teleflex Cash Flow from Operations
Slide 30: Appendix F - Net Debt to Total Capital Reconciliation
Appendix F - Net Debt to Total Capital Reconciliation ($ Millions)
Slide 31: Appendix G - Q3 Medical Revenue by Region & Product Summary
Appendix G - Q3 Medical Revenue by Region & Product Summary Note: Q3'07 excludes Arrow acquisition which occurred in Q4'07