Marine segment hurts Q3 bottom line at Teleflex

LIMERICK, Pa. — Teleflex Inc. reported this week that third-quarter revenues were $461.5 million, compared to $504.0 million in the third quarter of 2008, down 8 percent. The company’s third quarter ended Sept. 27.

Core revenue was down 1 percent in the Medical Segment and 23 percent and 16 percent in the Aerospace and Commercial Segments, respectively, the company said in its financial report.

Reductions in the Commercial Segment’s core revenue were principally a result of a decrease in sales of rigging and marine OEM products, partially offset by sales of the modern burner unit to the U.S. military. The impact of the sale of the Teleflex gauge division to Veethree contributed 4 percent to the decline, the company said.

During the third quarter of 2009, Teleflex also completed the sale of its Power Systems business for $14.5 million and realized a loss of $3.3 million, net of tax.

To read the company’s full report, click here.

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