EX-99.2 3 w45558exv99w2.htm AS ADJUSTED SEGMENT RESULTS OF OPERATIONS TO REFLECT DISCONTINUED OPERATIONS exv99w2
 

Exhibit 99.2
                                                 
Teleflex Incorporated                            
As Adjusted Segment Results of Operations   2007 Quarter — (Unaudited)             2007 Year to Date — (Unaudited)  
To Reflect Discontinued Operations                                 6 MTHS     9 MTHS  
    4/1     7/1     9/30           7/1     9/30  
 
                                                
Revenues
                                                
Commercial
   $ 103,194     $ 118,542     $ 116,990             $ 221,736     $ 338,726  
Medical
     226,889       226,428       227,825               453,317       681,142  
Aerospace
     110,257       107,347       113,747               217,604       331,351  
 
                                    
Total revenues
   $ 440,340     $ 452,317     $ 458,562             $ 892,657     $ 1,351,219  
 
                                    
 
                                                
Segment operating profit (*)
                                                
Commercial
   $ 5,528     $ 10,178     $ 2,304             $ 15,706     $ 18,010  
Medical
     48,609       43,218       50,448               91,827       142,275  
Aerospace
     12,586       12,044       7,544               24,630       32,174  
 
                                    
Total segment operating profit
     66,723       65,440       60,296               132,163       192,459  
 
                                                
Corporate expenses
     10,690       12,376       9,140               23,066       32,206  
(Gain) loss on sales of businesses and assets
     (793 )     2,121       (207 )             1,328       1,121  
Restructuring and impairment charges
     441       1,081       4,937               1,522       6,459  
Minority interest in consolidated subsidiaries
     (7,108 )     (6,708 )     (7,200 )             (13,816 )     (21,016 )
 
                                    
Income from continuing operations before interest, taxes and minority interest
     63,493       56,570       53,626               120,063       173,689  
Interest expense, net
     7,904       7,450       5,292               15,354       20,646  
 
                                    
Income from continuing operations before taxes and minority interest
     55,589       49,120       48,334               104,709       153,043  
Taxes on income from continuing operations
     14,650       9,166       104,358               23,816       128,174  
 
                                    
Income from continuing operations before minority interest
     40,939       39,954       (56,024 )             80,893       24,869  
Minority interest in consolidated subsidiaries
     7,108       6,708       7,200               13,816       21,016  
 
                                    
Income from continuing operations
     33,831       33,246       (63,224 )             67,077       3,853  
Operating income from discontinued operations
     17,753       93,217       7,439               110,970       118,409  
Taxes on income from discontinued operations
     7,310       32,602       1,251               39,912       41,163  
 
                                    
Net income
   $ 44,274     $ 93,861     $ (57,036 )           $ 138,135     $ 81,099  
 
                                    
 
                                                
Earnings per share:
                                                
Basic:
                                                
Income from continuing operations
   $ 0.87     $ 0.85     $ (1.61 )           $ 1.71     $ 0.10  
Income from discontinued operations
   $ 0.27     $ 1.55     $ 0.16             $ 1.82     $ 1.97  
 
                                    
Net income
   $ 1.13     $ 2.39     $ (1.45 )           $ 3.53     $ 2.07  
 
                                    
 
                                                
Diluted:
                                                
Income from continuing operations
   $ 0.86     $ 0.84     $ (1.61 )           $ 1.70     $ 0.10  
Income from discontinued operations
   $ 0.27     $ 1.53     $ 0.16             $ 1.80     $ 1.95  
 
                                    
Net income
   $ 1.12     $ 2.37     $ (1.45 )           $ 3.49     $ 2.05  
 
                                    
 
                                                
Average number of common and common equivalent shares outstanding:
                                                
Basic
     39,032       39,221       39,368               39,126       39,207  
Diluted
     39,403       39,678       39,368               39,540       39,638  
 
(*)   Segment operating profit includes a segment’s revenues reduced by its materials, labor and other products costs along with the segment’s selling, engineering and administrative expenses and minority interest. Unallocated corporate expenses, (gain) loss on sales of businesses and assets, restructuring and impairment charges, interest income and expense and taxes on income are excluded from the measure.
These discontinued operations have not historically been separately identified, consolidated and audited as presented in this schedule.
Certain financial information is presented on a rounded basis, which may cause minor differences.

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Exhibit 99.2
                                                                 
Teleflex Incorporated                                                  
As Adjusted Segment Results of Operations   2006 Quarters — (Unaudited)             2006 Year to Date — (Unaudited)  
To Reflect Discontinued Operations                                         6 MTHS     9 MTHS     12 MTHS  
    3/26     6/25     9/24     12/31           6/25     9/24     12/31  
 
                                                                
Revenues
                                                                
Commercial
   $ 97,312     $ 112,688     $ 108,464     $ 108,297             $ 210,000     $ 318,464     $ 426,761  
Medical
     203,121       217,761       207,722       230,072               420,882       628,604       858,676  
Aerospace
     92,235       95,256       107,446       110,435               187,491       294,937       405,372  
 
                                                
Total revenues
   $ 392,668     $ 425,705     $ 423,632     $ 448,804             $ 818,373     $ 1,242,005     $ 1,690,809  
 
                                                
 
                                                                
Segment operating profit (*)
                                                                
Commercial
   $ 5,529     $ 9,784     $ 6,851     $ 8,334             $ 15,313     $ 22,164     $ 30,498  
Medical
     30,261       37,335       44,223       49,888               67,596       111,819       161,707  
Aerospace
     9,093       8,116       9,760       13,255               17,209       26,969       40,224  
 
                                                
Total segment operating profit
     44,883       55,235       60,834       71,477               100,118       160,952       232,429  
 
                                                                
Corporate expenses
     10,091       8,284       9,572       17,497               18,375       27,947       45,444  
(Gain) loss on sales of businesses and assets
     (643 )     1,828       (453 )     —               1,185       732       732  
Restructuring and impairment charges
     4,493       7,990       3,275       6,565               12,483       15,758       22,323  
Minority interest in consolidated subsidiaries
     (5,249 )     (5,511 )     (6,206 )     (6,245 )             (10,760 )     (16,966 )     (23,211 )
 
                                                
Income from continuing operations before interest, taxes and minority interest
     36,191       42,644       54,646       53,660               78,835       133,481       187,141  
Interest expense, net
     8,209       8,693       8,389       9,632               16,902       25,291       34,923  
 
                                                
Income from continuing operations before taxes and minority interest
     27,982       33,951       46,257       44,028               61,933       108,190       152,218  
Taxes on income from continuing operations
     6,895       3,645       13,689       8,690               10,540       24,229       32,919  
 
                                                
Income from continuing operations before minority interest
     21,087       30,306       32,568       35,338               51,393       83,961       119,299  
Minority interest in consolidated subsidiaries
     5,249       5,511       6,206       6,245               10,760       16,966       23,211  
 
                                                
Income from continuing operations
     15,838       24,795       26,362       29,093               40,633       66,995       96,088  
Operating income from discontinued operations
     19,951       19,182       11,619       13,828               39,133       50,752       64,580  
Taxes on income from discontinued operations
     6,683       7,338       2,015       5,202               14,021       16,036       21,238  
 
                                                
Net income
   $ 29,106     $ 36,639     $ 35,966     $ 37,719             $ 65,745     $ 101,711     $ 139,430  
 
                                                
Earnings per share:
                                                                
Basic:
                                                                
Income from continuing operations
   $ 0.39     $ 0.62     $ 0.67     $ 0.75             $ 1.01     $ 1.67     $ 2.42  
Income from discontinued operations
   $ 0.33     $ 0.29     $ 0.24     $ 0.22             $ 0.62     $ 0.87     $ 1.09  
 
                                                
Net income
   $ 0.72     $ 0.91     $ 0.91     $ 0.97             $ 1.63     $ 2.54     $ 3.51  
 
                                                
Diluted:
                                                                
Income from continuing operations
   $ 0.39     $ 0.61     $ 0.67     $ 0.74             $ 1.00     $ 1.66     $ 2.40  
Income from discontinued operations
   $ 0.33     $ 0.29     $ 0.24     $ 0.22             $ 0.62     $ 0.86     $ 1.08  
 
                                                
Net income
   $ 0.72     $ 0.90     $ 0.91     $ 0.96             $ 1.62     $ 2.53     $ 3.49  
 
                                                
Average number of common and common equivalent shares outstanding:
                                                                
Basic
     40,346       40,244       39,465       38,983               40,295       40,019       39,760  
Diluted
     40,626       40,495       39,566       39,227               40,577       40,241       39,988  
 
(*)   Segment operating profit includes a segment’s revenues reduced by its materials, labor and other products costs along with the segment’s selling, engineering and administrative expenses and minority interest. Unallocated corporate expenses, (gain) loss on sales of businesses and assets, restructuring and impairment charges, interest income and expense and taxes on income are excluded from the measure.
These discontinued operations have not historically been separately identified, consolidated and audited as presented in this schedule.
Certain financial information is presented on a rounded basis, which may cause minor differences.

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