Teleflex Incorporated Mulls Acquisitions
May 21 15
Teleflex Incorporated (NYSE:TFX) is seeking acquisitions. Benson Smith, Chairman, President, and Chief Executive Officer of Teleflex Incorporated, said at Teleflex Incorporated investor and analyst day, “And so I get asked quite frequently about the future potential for M&A. I continue to view Teleflex as a serial acquirer, and the investment community should expect from Teleflex over the next several years similar benefits in terms of M&A that we have delivered over the past few years.”
Teleflex Incorporated Declares Quarterly Cash Dividend Payable on June 15, 2015
May 4 15
Teleflex Incorporated announced that its Board of Directors declared a quarterly cash dividend of $0.34 per share of common stock. The dividend is payable June 15, 2015 to shareholders of record at the close of business on May 14, 2015.
Teleflex Incorporated Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 29, 2015; Provides Earnings Guidance for the Year 2015
Apr 30 15
Teleflex Incorporated reported unaudited consolidated earnings results for the first quarter ended March 29, 2015. For the quarter, the company's net revenues were $429,430,000 against $438,546,000 a year ago. Income from continuing operations before interest and taxes was $65,608,000 against $59,020,000 a year ago. Income from continuing operations before taxes was $48,605,000 against $43,803,000 a year ago. Income from continuing operations was $39,273,000 or $0.83 diluted per share against $35,269,000 or $0.77 diluted per share a year ago. Net income was $38,570,000 against $35,144,000 a year ago. Net income attributable to common shareholders was $38,352,000 or $0.81 diluted per share against $34,958,000 or $0.76 diluted per share a year ago. Net cash provided by operating activities from continuing operations was $42,358,000 against $41,918,000 a year ago. Expenditures for property, plant and equipment was $14,445,000 against $12,109,000 a year ago. Adjusted net income attributable to common shareholders was $57.3 million or $1.30 diluted per share against $53.0 million or $1.22 diluted per share a year ago. Net debt obligations at march 29, 2015 were $825.8 million compared to $801.4 million at December 31, 2014.
The company continues to estimate that constant currency revenue growth will be between 4% and 6%. on a GAAP basis, revenues are expected to be flat to down 2% versus the prior year due to the unfavorable impact of foreign currency fluctuations. The company also continues to estimate that adjusted diluted earnings per share from continuing operations will be between $6.10 and $6.35, representing an increase of 6.3% to 10.6% over the prior year. Previously, the company expected foreign currency fluctuations to negatively impact adjusted earnings per share in 2015 by approximately 14%. Current expectation reflects that foreign currency fluctuations will negatively impact adjusted earnings per share in 2015 by approximately 15%. the company has updated its full year 2015 GAAP diluted earnings per share from continuing operations range from $4.22 to $4.37 to a range of $4.13 to $4.28.
Teleflex Promotes Liam Kelly to Executive Vice President and Chief Operating Officer
Apr 30 15
Teleflex Incorporated announced the promotion of Liam Kelly to the newly created role of Chief Operating Officer. Mr. Kelly was Executive Vice President and President of the Americas and has been in executive roles with increasing responsibilities since joining Teleflex in 2009. Prior to being named President of the Americas in early 2014, Mr. Kelly was Executive Vice President and President of the International operations. Prior to joining Teleflex, Mr. Kelly held various senior level positions at a global medical device company from 2002 to 2009. In his new role, Mr. Kelly will be responsible for the global commercial strategy of the Company as head of the Americas, Asia Pacific and Europe, Middle East and Africa regions. Mr. Kelly’s primary focus in this new role will be managing the Company’s sales, marketing and research and development functions, and identifying opportunities for cross business investments and collaboration in these and other areas.