Teleflex predicts strong 2005
LIMERICK, Pa. – Marine steering, control and electronics components manufacturer Teleflex Inc., provided a preliminary financial performance outlook for 2005 in a press release yesterday, predicting a strong upcoming year for the company.
Teleflex said it expects reported diluted earnings per share for the full year 2005 – including charges related to the previously announced restructuring and divestiture program – to be in the range of $2.80 to $3.00 and diluted earnings per share from continuing operations, excluding one-time charges, to be in the range of $3.60 to $3.80.
This preliminary outlook excludes gains, losses or costs associated with further portfolio adjustments that may occur. Financial results in 2005 should benefit from several strategic actions announced in 2004.
“From our vantage point today, 2005 looks like it will be a strong year for the company,” said Jeffrey P. Black, president and CEO of Teleflex. “A focus on cash flow management should increase cash flow from operations by 20 to 25 percent year over year. Cost benefits from the restructuring and divestiture program, accretion from the HudsonRCI acquisition, and the positive impact of portfolio changes in 2004 should improve operating margins across all three business segments. The actions we have taken and our strong balance sheet will enable us to pursue strategic acquisitions in the years ahead.”
Teleflex held a conference call this morning to recap its 2004 strategic actions and to outline how these actions are expected to contribute to earnings growth in 2005. The call is to be archived on the company’s Web site, at www.teleflex.com, and an audio replay will be available until Dec. 22 by calling 888-286-8010 (US/Canada) or 617-801-6888 (International), and entering passcode # 11320389.
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