Skip to main content

Teleflex reports 3Q results

Teleflex Inc. today announced an 8 percent overall decline in revenues for the third quarter, which ended Sept. 27.

Revenues from continuing operations were $461.5 million, compared to $504 million in the third quarter of 2008. The decline resulted from a decrease in core revenue of 6 percent and an unfavorable currency impact of 2 percent.

Commercial segment revenues declined 20 percent in the third quarter to $59.8 million from $74.6 million in the same period last year. Reductions in core revenue, which accounted for 16 percent of the decline, were principally a result of a decrease in sales of rigging and marine OEM products partially offset by sales of the modern burner unit to the U.S. military.

The impact of the marine gauge business divestiture contributed 4 percent to the decline.

Income from continuing operations, excluding special items, increased 12 percent to $35.2 million, or 88 cents per diluted share, compared to $31.4 million, or 78 cents per diluted share in the prior year quarter.

"During the quarter, Teleflex generated double-digit adjusted earnings growth, improved our working capital as evidenced by our strong cash flow performance, and progressed on our capital structure," said Jeffrey P. Black, chairman and chief executive officer, in a statement.

"We achieved core revenue growth in our higher-margin, critical care product offerings and continued to expand our medical segment adjusted operating margins," said Black. "We also expect the sequential operating profit improvements reported in our aerospace and commercial businesses to continue in the fourth quarter. In light of these factors, we now expect our 2009 earnings per share, excluding special items, to be at the top end of our previously announced guidance of $3.40 to $3.60 per diluted share."

For the first nine months of 2009, Teleflex revenues from continuing operations decreased 12 percent to $1.375 billion from $1.57 billion in the first nine months of 2008.

Related

1_Seakeeper Ride 450_2023 Sportsman Open 232 Center Console

Seakeeper’s New System Targets Pitch

Seakeepeer, whose gyroscopic stabilizers set the marine industry standard for eliminating as much as 95 percent of a boat’s roll, is now turning its attention to eliminating pitch with their Seakeeper Ride system.

7_IMG_0254

Propeller Precision

Yamaha’s new $20 million foundry produces about 100,000 propellers a year

1_.MARTIN_FLORY

PR Firm Celebrates 60th Anniversary

Martin Flory Group has served the RV and marine industry segments since 1962.

Screen Shot 2022-09-26 at 9.29.49 AM

Mack Boring Turns 100

The New Jersey-based engine and components supplier, started in 1922 by Edward “Mack” McGovern, today is still a family-run business.

2_IBEX

IBEX Canceled

Tropical Storm Ian is expected to strengthen into a hurricane and impact Florida’s west coast sometime Wednesday.

3_Manitou-MY23-VW06-Rotax-Engine-Cutaway-Feature

Clearing the Deck

Bombardier Recreational Products unveiled the Rotax outboard with Stealth Technology in August

AdobeStock_306648964

Shoring Up Your Defenses

Marine businesses are just as open to cyberattacks as all kinds of other businesses in nearly every industry