Teleflex Sees FY17 Adj. EPS Above Market View After Q4 Results Top Estimates

(RTTNews) - Medical device maker Teleflex Inc. (TFX) Thursday said it expects full year 2017 GAAP earnings per share from continuing operations to be between $5.04 and $5.08. The Company expects adjusted earnings per share from continuing operations to be between $8.00 and $8.15 for full year 2017, representing an increase of 9.0 percent to 11.0 percent over 2016.

On average, 9 analysts polled by Thomson Reuters expect earnings of $7.85 per share for the year. Analysts' estimates typically exclude special items.

Revenues in 2017 are expected to increase 10.0 percent to 11.5 percent over the prior year, reflecting the anticipated 2.5 percent unfavorable impact of foreign currency exchange rate fluctuations. On a constant currency basis, the Company estimates that revenues for full year 2017 will increase 12.5 percent to 14.0 percent.

In fiscal 2016, reported earnings per share were $4.98, adjusted earnings per share were $7.34 and revenues were $1.87 billion.

In the fourth quarter, attributable net income declined to $61.06 million from $101.12 million last year. Earnings per share dropped to $1.30 from $2.09 last year. Earnings per share from continuing operations fell to $1.29 from $1.88 last year.

Adjusted earnings per share from continuing operations were $2.13, compared to $2.01 in the prior year period.

Fourth-quarter revenues of $513.9 million increased 6.1 percent from $484.50 million. Revenues went up 6.9 percent on constant currency basis.

Analysts expected earnings of $2.09 per share on revenues of $502.64 million for the quarter.