Slide 1: Teleflex Incorporated Second Quarter 2013 Earnings Conference Call
Exhibit 99.1 TELEFLEX INCORPORATED SECOND QUARTER 2013 EARNINGS CONFERENCE CALL
Slide 2: 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 88095129
Slide 3: Introductions
Introductions Benson Smith Chairman, President and CEO Thomas Powell Executive Vice President and CFO Jake Elguicze Treasurer and Vice President of Investor Relations
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 expectations with respect to expected launch dates of new products; forecasted 2013 constant currency revenue growth; forecasted 2013
Slide 5: Second Quarter 2013 Highlights
SECOND QUARTER 2013 HIGHLIGHTS
Slide 6: Financial Highlights
Financial Highlights Revenue of $420.1 million, up 9.6% constant currency Adjusted gross margin of 49.8%, up 170 bps vs. prior year Adjusted operating margins of 17.0%, flat vs. prior year Adjusted EPS of $1.27, up 3.3% vs. prior year
Slide 7: Strategic Highlights
Strategic Highlights Price initiatives drove 91 bps of top-line growth in Q2 2013 compared to Q2 2012 Latin America up 299 bps North America up 116 bps Europe up 62 bps Asia Pacific down 14 bps Eighth consecutive quarter of positive year-over-year pricing and sequential improvement from Q1 2013
Slide 8: Strategic Highlights
Strategic Highlights Continue to invest in product areas to drive future revenue growth and profitability Research & development spending up 30 bps, or 21%, compared to Q2’12 Newly introduced products contribute 132 bps of revenue growth compared to Q2’12 Gained marketing clearances for new ARROW® G
Slide 9: Strategic Highlights: ARROW GPSCath Balloon Dilation Catheter
Strategic Highlights ARROW® GPSCath® Balloon Dilation Catheter PRODUCT DESCRIPTION Enables multiple vascular procedures to be performed with one dual-function catheter, potentially reducing procedure time and expense for both patients and medical professionals Combines angioplasty and proprietary Vi
Slide 10: Strategic Highlights: ARROW NextStep Dialysis Catheters
Strategic Highlights ARROW® NextStep® Retrograde Femoral Length Dialysis Catheters PRODUCT DESCRIPTION Designed for clinician ease of insertion and to take better advantage of the blood flow dynamics within the heart through its unique reversed port configuration resulting in reduced recirculation a
Slide 11: Strategic Highlights: Rusch TruLite Laryngoscope System
Strategic Highlights Rusch® TruLite™ Laryngoscope System PRODUCT DESCRIPTION Disposable laryngoscope blade and handle system for single-patient use System features LED lighting technology Addresses clinician concerns regarding potential risk of patient cross-contamination and cost of maintaining reu
Slide 12: Strategic Highlights: ARROW VPS G4
Strategic Highlights ARROW® VPS G4™ (Vascular Positioning System) PRODUCT DESCRIPTION Only system to use micro-doppler ultrasound technology in combination with intravascular ECG and advanced algorithms Provides easy-to-follow symbols and improved sterile field capability Wi-Fi access to enable inte
Slide 13: Strategic Highlights: LMA International
Strategic Highlights LMA International N.V. and affiliates Contributed revenue of approximately $32.5 million in Q2 2013 LMA integration and performance continues to be slightly ahead of initial expectations
Slide 14: Strategic Acquisition: Ultimate Medical
Strategic Acquisition: Ultimate Medical A leading supplier and innovator of airway management devices, including a full-range of laryngeal mask airways Developed the Cuff PilotTM, the world’s first integrated cuff pressure indicator for airway management devices. This novel technology allows clinici
Slide 15: Strategic Acquisition: Eon Surgical
Strategic Acquisition: Eon Surgical Late stage development company that has advanced a minimally invasive micro-laparoscopy surgical platform technology designed to enhance surgeons’ ability to perform scarless surgery while producing better patient outcomes Developed the InterTipTM platform, a comp
Slide 16: Strategic Highlights
Strategic Highlights Continue to expand GPO & IDN relationships 6 new agreements (3 GPO; 3 IDN) 1 GPO agreement renewal Profitability improvement and facility rationalization initiatives continue Completed the North American Distribution Center consolidation program Completed the integration of lega
Slide 17: Second Quarter 2013 Financial Review
SECOND QUARTER 2013 FINANCIAL REVIEW
Slide 18: Financial Results
Financial Results Revenue of $420.1 million Up 9.6% vs. prior year on an as-reported and constant currency basis Adjusted gross margin of 49.8% Up 170 bps vs. prior year Research & development spending up 21% from prior year Adjusted operating margin of 17.0% Flat vs. prior year Adjusted EPS of $1.2
Slide 19: Second Quarter Product & Segment Revenue Review
SECOND QUARTER PRODUCT & SEGMENT REVENUE REVIEW
Slide 20: Product Revenue Review
Product Revenue Review Q2’13 8% 5% 18% 69% Critical Care Cardiac Care Surgical Care OEM Q2’12 10% 5% 19% 66% Critical Care Cardiac Care Surgical Care OEM Constant Currency Revenue Commentary Critical Care: $289.3 million, up 14.0% Anesthesia – up 57.3% Urology – up 6.0% Vascular and interventional a
Slide 21: Segment Revenue Review
Segment Revenue Review Q2’13 8% 12% 33% 47% Americas EMEA Asia OEM Q2’12 10% 11% 33% 46% Americas EMEA Asia OEM Constant Currency Revenue Commentary Americas: $199.8 million, up 12.9% Asia: $50.4 million, up 17.3% EMEA: $137.8 million, up 8.1% OEM: $32.1 million, down 11.0% Note: Increases and decre
Slide 22: 2013 Financial Outlook
2 2013 FINANCIAL OUTLOOK Veleflex:
Slide 23: 2013 Financial Outlook
2013 Financial Outlook Constant currency revenue growth of between 10% to 12% Previously provided constant currency revenue growth expectations were 11% to 13% Adjusted gross margin of between 50% to 51% Including impact of medical device tax, adjusted operating margin expected to be between 16.0% t
Slide 24: Question & Answer
24 QUESTION & ANSWER Veleflex:
Slide 25: Appendices
25 APPENDICES Veleflex:
Slide 26: Appendix A – Reconciliation of Product Constant Currency Revenue Growth
Appendix A – Reconciliation of Product Constant Currency Revenue Growth Dollars in Millions Three Months Ended % Increase / (Decrease) June 30, 2013 July 1, 2012 Constant Currency Currency Total Critical Care $289.3 $253.9 14.0% (0.1%) 13.9% Surgical Care 78.1 72.9 6.6% 0.5% 7.1% Cardiac Care 20.2 2
Slide 27: Appendix B – Reconciliation of Segment Constant Currency Revenue Growth
Appendix B – Reconciliation of Segment Constant Currency Revenue Growth Dollars in Millions Three Months Ended % Increase / (Decrease) June 30, 2013 July 1, 2012 Constant Currency Currency Total Americas $199.8 $176.8 12.9% 0.1% 13.0% EMEA 137.8 126.9 8.1% 0.5% 8.6% Asia 50.4 43.6 17.3% (1.8%) 15.5%
Slide 28: 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 Three Months Ended % Increase / (Decrease) June 30, 2013 July 1, 2012 Constant Currency Currency Total Vascular & Interventional Access $112.0 $109.7 2.8% (0.8%) 2.1% Anesthesia 90.9 57.6 57.3%
Slide 29: Appendix D – Second Quarter Income Statement from Continuing Operations
Appendix D – Second Quarter Income Statement from Continuing Operations Dollars in millions, except per share Q2’13 Q2’12 Revenues $420.1 $383.3 9.6% Adjusted gross profit 209.2 184.4 13.5% Adjusted gross margin 49.8% 48.1% Adjusted selling, general and administrative expenses 121.1 105.3 15.0% Rese
Slide 30: Appendix E – EPS Reconciliation from Continuing Operations
Appendix E – EPS Reconciliation from Continuing Operations Quarter Ended – June 30, 2013 Cost of goods sold Selling, general and administrative expenses Restructuring and other impairment charges Gain/(loss) on sales of businesses and assets Interest expense, net Income taxes Net income (loss) attri
Slide 31: Appendix F – EPS Reconciliation from Continuing Operations
Appendix F – EPS Reconciliation from Continuing Operations Quarter Ended - July 1, 2012 Cost of goods sold Selling, general and administrative expenses Restructuring and other impairment charges Gain/(loss) on sales of businesses and assets Interest expense, net Income taxes Net income (loss) attrib
Slide 32: 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 $3.30 $3.50 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 33: Appendix H – Reconciliation of Teleflex SG&A Expenses
Appendix H – Reconciliation of Teleflex Selling, General and Administrative Expenses $ thousands Three Months Ended June 30, 2013 July 1, 2012 Teleflex Selling, General and Administrative Expenses as Reported $116,253 $105,951 Add: Contingent Consideration Income 6,641 Less: Acquisition Costs (1,764
Slide 34: Appendix I – Reconciliation of Teleflex Gross Profit
Appendix I – Reconciliation of Teleflex Gross Profit $ thousands Three Months Ended June 30, 2013 July 1, 2012 Teleflex Gross Profit as Reported $209,490 $184,364 Add: Acquisition Costs - Less: Stock Keeping Unit Reserve Reversal (467) - Adjusted Teleflex Gross Profit $209,170 $184,364