WASHINGTON (dpa-AFX) - Specialty medical devices provider Teleflex Inc.
(TFX) reported Thursday that net income for the first quarter plunged to $15.29
million or $0.32 per share from $76.75 million or $1.62 per share in the
prior-year quarter.

Income from continuing operations was $0.33 percent, sharply lower than $1.63
per share last year.

Excluding items, adjusted earnings from continuing operations were $3.21 per
share, compared to $3.09 per share in the year-ago quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report
earnings of $3.07 per share for the quarter. Analysts' estimates typically
exclude special items.

Net revenues for the quarter increased 3.8 percent to $737.85 million from
$710.93 million in the same quarter last year. Analysts expected revenues of
$726.89 million for the quarter.

Looking ahead to fiscal 2024, the company now projects earnings from continuing
operations in a range of $6.87 to $7.22 per share and adjusted earnings from
continuing operations in a range of $13.60 and $13.95 per share on revenue
growth of 3.35 to 4.35 percent, with constant currency revenue growth of 3.75 to
4.75 percent.

The Street is looking for earnings of $13.73 per share on revenue growth of 4.0
percent to $3.09 billion for the year.

Previously, the company expected earnings from continuing operations in the
range of $5.69 to $6.09 per share and adjusted earnings from continuing
operations in the range of $13.55 and $13.95 per share on revenue growth of 3.6
to 4.6 percent, with constant currency revenue growth of 3.75 to 4.75 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit
rttnews.com



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX