teleflex inc (TFX) Key Developments
Teleflex Signs New Agreement with Amerinet for Surgical Instruments
Aug 17 15
Teleflex Incorporated has been awarded a new Amerinet Choice® agreement with Amerinet. The agreement is effective August 1, 2015 through March 31, 2017. Through this new single source Choice agreement, Amerinet members will have access to an extensive line of handheld and laparoscopic surgical instruments, including well-established Pilling® and KMedic® products, at exclusive member rates.
Teleflex Incorporated Declares A Quarterly Cash Dividend, Payable on September 14, 2015
Jul 30 15
Teleflex Incorporated announced that its Board of Directors declared a quarterly cash dividend of 34 cents ($0.34) per share of common stock. The dividend is payable September 14, 2015 to shareholders of record at the close of business on August 14, 2015.
Teleflex Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2015; Provides Earnings Guidance for the Year 2015
Jul 30 15
Teleflex Incorporated reported unaudited consolidated earnings results for the second quarter and six months ended June 28, 2015. For the quarter, the company reported net revenues of $452.045 million compared to $468.105 million a year ago. Income from continuing operations before interest and taxes was $76.986 million compared to $74.752 million a year ago. Income from continuing operations before taxes was $50.479 million compared to $58.836 million a year ago. Income from continuing operations was $45.199 million or $0.93 per diluted share compared to $48.830 million or $1.04 per diluted share a year ago. Net income attributable to common shareholders was $44.563 million or $0.93 per diluted share compared to $47.252 million or $1.02 per diluted share a year ago. Adjusted net income was $63.5 million or $1.42 per diluted share compared to $65.9 million or $1.51 per diluted share a year ago.
For the six months, the company reported net revenues of $881.475 million compared to $906.651 million a year ago. Income from continuing operations before interest and taxes was $142.594 million compared to $133.772 million a year ago. Income from continuing operations before taxes was $99,084 million compared to $102.639 million a year ago. Income from continuing operations was $84.472 million or $1.76 per diluted share compared to $84.099 million or $1.81 per diluted share a year ago. Net income attributable to common shareholders was $82.915 million or $1.74 per diluted share compared to $82.210 million or $1.78 per diluted share a year ago. Net cash provided by operating activities from continuing operations was $109.588 million compared to $120.161 million a year ago. Expenditures for property, plant and equipment were $31.321 million compared to $30.850 million a year ago. Adjusted net income was $120.8 million or $2.72 per diluted share compared to $118.9 million or $2.73 per diluted share a year ago. Net debt obligations at June 28, 2015 were $816.7 million.
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. Consistent with the previous expectations, the company anticipated 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 $4.13 to $4.28 to a range of $4.23 to $4.38, reflecting an expected reduction in 2015 forecasted restructuring, impairment charges and special items, net of tax. Diluted earnings per share attributable to common shareholders is expected to be between $4.23-$4.38.
Teleflex Incorporated Receives FDA Market Clearance for its ARROW Endurance™ Extended Dwell Peripheral Catheter System
Jul 29 15
Teleflex Incorporated announced that its ARROW Endurance™ Extended Dwell Peripheral Catheter System received market clearance from the U.S. Food and Drug Administration (FDA). The new device is a peripheral catheter system in which the catheter is cleared by the FDA to dwell up to 29 days. The extended dwell catheter enables hospitals to avoid using multiple PIVs to achieve longer dwell times while also avoiding the extra clinical risks and expenses associated with a peripherally inserted central catheter (PICC). The intravascular catheter is intended for short-term use (up to 29 days) to permit delivery of infusion therapies, pressure monitoring, high pressure injection (325 psi max.), and withdrawal of blood. Designed to maximize performance and ease-of-use, the extended dwell system is engineered to increase safety for clinicians and reduce needle sticks for patients. The device contains a passive needle safety that reduces the risk of accidental needle stick injuries and exposure to blood. The closed system design makes it less likely that clinicians will accidentally come in contact with bloodborne pathogens. Teleflex expects to launch the ARROW Endurance™ Extended Dwell Peripheral Catheter System in the United States later in 2015.
HealthTrust Inks Group Purchasing Deal for Teleflex Port Closure Products
Jul 29 15
Teleflex Inc. has inked a new group purchasing agreement with HealthTrust covering Teleflex Inc.'s Weck EFx Portfolio of Port Closure products. The agreement becomes effective 1 August 2015. Weck EFx Port Closure Products from Teleflex are designed to allow surgeons to provide fast, safe closure of laparoscopic port sites with a range of options that suit their procedural and institutional needs. The new Weck EFx Shield Fascial Closure System is a shielded port closure device, providing enhanced sharps protection for safe, uniform, and consistent fascial closure.