Teleflex Q1 Adj. Profit Beats Estimates, Confirms FY15 Revenue Growth Outlook

(RTTNews) - Teleflex Inc. (TFX) Thursday announced an increase in first quarter attributable net income of $38.35 million from $34.958 million in the prior year. Earnings per share increased to $0.81 from $0.76 per share last year. Income from continuing operations climbed 7.8 percent to $0.83 from $0.77 per share a year ago.

On an adjusted basis, earnings climbed 6.5 percent to $1.30 per share from $1.22 per share over the prior year period.

On average, 10 analysts polled by Thomson Reuters expected the company to earn $1.27 per share. Analysts estimates usually exclude special items.

First quarter revenues declined 2.1 percent to $429.4 million from $438.55 million last year. On a constant currency basis, revenue was up 5.2 percent. Analysts were looking for $433.44 million.

Looking ahead to 2015, the Company projects earnings per share from continuing operations range from $4.22 to $4.37 to $4.13 to $4.28. Adjusted earnings per share from continuing operations are expected to be between $6.10 and $6.35, representing an increase of 6.3 to 10.6 percent, over the prior year. Earlier the company was looking for foreign currency fluctuations to negatively impact adjusted earnings per share in 2015 by approximately 14 percent and currently it expects an impact of 15 percent. Street expects $6.23 per share on revenue of $1.84 billion.

Teleflex reaffirmed its full year 2015 financial estimates and revenues are expected to be flat to down 2% versus the prior year due to the unfavorable impact of foreign currency fluctuations. The company continues to estimate that constant currency revenue growth will be between 4% and 6%.