Skip to main content

Teleflex reports 3Q results

Teleflex today reported an increase in revenue, but sharply lower profits in the third quarter.

The company said third-quarter net income fell to $21.7 million, or 52 cents a share, from $43.7 million, or $1.07 a share, in the same quarter a year earlier. The reduced profit resulted from costs related to an acquisition and a loss from the company’s orthopedics business.

Excluding one-time items, Teleflex said it earned $1.04 a share in the quarter. Revenue rose 1.5 percent, to $368.1 million, from $362.7 million a year earlier. Excluding the effect of foreign currency fluctuations, third-quarter 2012 revenue rose 6.2 percent from the prior-year period.

"Teleflex's strong 6.2 percent constant currency revenue growth reflects increased volumes on a global basis, the positive contribution from recently introduced products to the marketplace and our ability to raise the average selling price of our products by over 1 percent," Teleflex chairman, president and CEO Benson Smith said in a statement.

OEM and development services’ third-quarter 2012 net revenue was $36.9 million, an increase of 11 percent from the prior-year period. Excluding the impact of foreign currency fluctuations, third-quarter 2012 revenue increased 13 percent, compared with the prior-year period. The company said the increase in revenue was attributable to higher volume, higher capacity as a result of plant expansions, new products and price increases.

“With nine months of 2012 and the completion of the LMA acquisition behind us, we are updating our guidance ranges for constant currency revenue growth and adjusted earnings per share,” Smith added. “We now expect to generate constant currency revenue growth of between 6 percent and 7 percent and adjusted earnings per share of between $4.35 and $4.40. We believe we are building momentum for a solid finish to 2012 and into 2013 and beyond."

Related

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.

1_BENETEAU

Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.

1_WINTRON copy

Wintron Announces Virtual Show

The electronics distributor will hold its distributor show Nov. 2-9, allowing dealers to interact with sales representatives via phone, email or online chat.

AdobeStock_131758074

Rays of Light

A key indicator of U.S. consumer confidence rose for the first time in four months in August as the economy added 315,000 jobs.

1_YANMAR

Yanmar Announces Sales, Marketing Hires

The company has hired Bas Eerden as global sales manager and Michele Durkin as global marketing manager.