Teleflex Incorporated (Teleflex) has provided full year 2009 guidance. For the period, company expects total revenues exceeding $2.4 billion and diluted earnings per share from continuing operations excluding special items in the range of $4.10 to $4.40. Cash flow from operations is projected to be in the range of $280 to $290 million.
Restructuring and other special charges related to the Arrow integration and recently announced Commercial group restructuring program are projected to be in the range of $0.30 to $0.40 per diluted share for the year. Pre-tax synergies to be realized in 2009 from the Arrow acquisition are projected to be in the range of $18 to $20 million. Inclusive of these synergies, the company projects to achieve cumulative pre-tax annual synergies related to Arrow in the range of $60 to $62 million through 2009, and $70 to $75 million through 2010.
Teleflex intends to report fourth quarter and year end 2008 financial results before the market opens and to webcast a conference call with investors on February 25, 2009.
Jeffrey P. Black, chairman and chief executive officer of Teleflex, commented, “2008 was a strong year for Teleflex as we progressed on our stated goals of expanding operating margins, generating strong cash flow from operations and achieving expected operational efficiencies. Entering 2009, we have a stronger portfolio of businesses positioned to deliver increased margins, strong cash flow and long-term revenue growth. The integration of the Arrow business continues on schedule and we are making good progress reducing our debt.”
Black continued, “The changes we made to our portfolio of businesses over the past few years have better positioned us to manage through this challenging economic environment. We expect to deliver consolidated adjusted segment operating profit margins in the mid-teens for 2009. With the integration of Arrow and planned increased investment in R&D, our outlook anticipates Medical adjusted segment operating margins exceeding 20% for the year and Aerospace and Commercial operating margins in line with 2008 levels. These operating margins, combined with our solid working capital management processes, are expected to deliver another year of strong cash flow.”