Teleflex Q3 Profit, Revenue Rise; Narrows Outlook

(RTTNews) - Teleflex Incorporated (TFX), a provider of specialty medical devices, Thursday reported net income of $137.14 million or $2.90 per share for the third quarter, higher than $101.89 million or $2.16 per share in the same quarter a year ago, mainly due to higher revenue.

Excluding one-time items, earnings from continuing operations of $3.64 per share beat the average estimate of analysts polled by Thomson-Reuters of $3.27 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter grew to $746.39 million from $686.79 million last year. The consensus estimate was for $733.56 million.

For the full year, the the company has narrowed its outlook. It now expects adjusted earnings per share from continuing operations to be in the range of $13.30-$13.50, compared with the previous guidance of $13.00-$13.60.

For the full year, revenue is now expected to grow 6.25%-6.45%, compared with the prior outlook of 5.80%-6.55%.