Teleflex Q2 Earnings Advance; Raises Annual Earnings Outlook - Quick Facts

(RTTNews) - Teleflex Inc. (TFX), a maker of single-use medical devices, Wednesday reported a rise in earnings as well as revenues for the second quarter, helped by a higher average selling price along with contribution from the Vidacare and Mayo Healthcare acquisitions.

In addition, the company increased its annual earnings outlook and reaffirmed its sales guidance.

For the three months to June, net earnings rose to $47.25 million or $1.02 per share, from $42.44 million or $0.98 per share a year ago.

Adjusted per-share earnings from continuing operations stood at $1.51, compared with $1.27 a year earlier.

On average, ten analysts polled by Thomson-Reuters estimated the company's earnings to be $1.34 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues rose to $468.1 million from $420.06 million in the corresponding period last year. Analysts expected revenues of $447.81 million.

Looking ahead, the company increased its annual adjusted earnings outlook to $5.45 to $5.60 per share, from a range of $5.35 to $5.55 per share previously projected.

The company also confirmed its annual sales guidance of 7 to 9 percent growth at constant currency.

Analysts expect earnings of $5.51 per share on revenues of $1.82 billion for the full year.