Teleflex Incorporated · NYSE:TFX
Teleflex — Q1 2007 Earnings Presentation
20 slides from Teleflex's earnings presentation, May 1, 2007
Slide 1: Teleflex Incorporated Q1 2007 Financial Results
Teleflex Incorporated Q1 2007 Financial Results May 1, 2007 Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements Note: The following slides reflect continuing operations. Further historical information including unaudited proforma segment results that reflect discontinued operations is available at www.teleflex.com. This presentation and our discussion contain forward-looking informa
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 69476307
Slide 4: Jeff Black, Chairman and Chief Executive Officer
Jeff Black Chairman and Chief Executive Officer
Slide 5: First Quarter 2007 Highlights
First Quarter 2007 Highlights - - Revenues: $667.3 million, up 11%; Core growth of 8% - - GAAP Income from continuing operations: $43.1 million, up 56% - - Income from continuing operations excluding special charges and gain on sale of assets: $ 42.9 million, $1.09 per diluted share Maintain strong
Slide 6: First Quarter 2007 Highlights
First Quarter 2007 Highlights Commercial: Revenues up 8% (core growth 5%) Operating profit flat Operating margins 6.1% Medical: Revenues up 12% (core growth 7%) Operating profits up 61% Operating margins 21.4% Aerospace: Revenues up 20% (core growth 17%) Operating profits up 38% Operating margins 11
Slide 7: 1Q 2007 Market Dynamics
1Q 2007 Market Dynamics Segment Commercial Medical Aerospace Market Dynamics Growth in international truck, bus/industrial, APU, Fluid, OPE Marine outperforms the market Automotive flat excluding currency impact Stronger international performance Disposables and surgical devices for hospital markets
Slide 8: Kevin Gordon, Executive Vice President and Chief Financial Officer
Kevin Gordon Executive Vice President and Chief Financial Officer
Slide 9: Summary Financial Performance - Q1 2007
Summary Financial Performance - Q1 2007
Slide 10: Three Month Summary from Continuing Operations
Three Month Summary from Continuing Operations
Slide 11: Financial Results - Commercial Segment
Financial Results - Commercial Segment + Auxiliary power units + Fluid systems, driver controls for truck and bus markets + Marine aftermarket, engine products and international sales increase Customer price reductions and higher costs in automotive Commodity costs negatively impact auto and marine
Slide 12: Financial Results - Medical Segment
Financial Results - Medical Segment + Revenue growth across all businesses + International markets lead growth + Taut acquisition in surgical + Operating margins exceed 20+% for 3rd consecutive quarter, with improvements in all product lines + IT implementation spending on plan for the quarter - - S
Slide 13: Financial Results - Aerospace Segment
Financial Results - Aerospace Segment + Strong core growth for wide body cargo systems and narrow body systems + Cargo aftermarket up + Repairs higher than expected + Cost and productivity improvement in cargo + Restructuring benefit in repairs Note: Results reflect move of components business to di
Slide 14: Asset Velocity
Asset Velocity Asset velocity of 16.7% at Q1'07 vs. 18.9% at Q1'06 Note: Asset velocity defined as net working capital less cash, deferred taxes, and net assets held for sale plus current portion of long term debt and income tax payable divided by annualized quarterly sales
Slide 15: Cash Flow
Cash Flow ~ Note: Impact of precision-machined components business divestiture reflected in presentation above
Slide 16: Strong Balance Sheet for Future Growth
Strong Balance Sheet for Future Growth Strong, well capitalized balance sheet provides debt capacity for potential acquisitions
Slide 17: 2007 Outlook
2007 Outlook Low High Earnings per share from continuing operations before special charges $4.05 $4.25 Special charges $(0.16) $(0.11) Earnings per share from continuing operations, including special charges $3.89 $4.14 Impact of precision-machined components business divestiture to 2007 Guidance ad
Slide 18: Summary
Summary Teleflex: Outstanding fundamentals Solid core growth Expanding margins Profitable businesses Low net debt to capital ratio Strong cash flow and cash flow conversion Investing for growth Technology and new product development Commitment to international markets Active acquisition pipeline
Slide 19: Question and Answer Session
Question and Answer Session
Slide 20: Appendix A - Reconciliation of Net Debt to Total Capital
Appendix A - Reconciliation of Net Debt to Total Capital