Teleflex Q2 Revenue Declines 14%

Teleflex Incorporated has reported a decrease in revenues from continuing operations by 14% to $483.1 million in the second quarter of 2009, as compared to $559.7 million in the second quarter of 2008.

The company claims that the decline resulted from a decrease in core revenue of 8%, an unfavorable currency impact of 5%, and a loss of revenues of 1% resulting from the sale of its Marine gauge business.

The company has reported a decrease in revenues from continuing operations by 13% to $952.7 million for the first six months of 2009, from $1.1 billion in the first six months of 2008.

The company has reported an increase in income from continuing operations excluding special charges by 18% to $38.5 million for the second quarter of 2009, as compared to $32.7 million in the prior year quarter.

The company has reported an increase in income from continuing operations (excluding special charges) by 18% to $68.7 million for the first six months of 2009, as compared to $58.4 million in the first half of prior year.

The company’s medical segment revenue decreased by 5% to $363.9 million for the second quarter, due to the negative impact from currency.

Jeffrey Black, chairman and CEO of Teleflex, said: “Teleflex continues to demonstrate the ability to consistently generate double-digit adjusted earnings growth despite operating in very difficult economic times. We continue to make progress within our Medical Segment, as our adjusted operating margins in that segment approached 22%. Despite the top-line revenue challenges we experienced in the first six months of 2009, we are raising our 2009 annual guidance for earnings per share excluding special charges to $3.40 to $3.60 per diluted share.”