Teleflex Earnings Up

Revenue rises 9%.
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, an engineering products outfit maker, said its third-quarter earnings rose about 7%.

The Limerick, Pa.-based company earned $36 million, or 91 cents a share, in the quarter, compared with $33.6 million, or 82 cents a share, a year ago.

Adjusted for items, income from continuing operations for the quarter was 96 cents a share for the third quarter. Analysts polled by Thomson First Call were expecting earnings of 92 cents a share in the recent quarter.

Third-quarter revenue rose 9% to $639.1 million.

The company expects earnings from continuing operations, before special charges, gain or loss on sale of assets and the tax benefit, of $3.75 to $3.90 a share for the full year. Special charges and gain or loss on sale of assets are expected to be about 35 cents to 45 cents a share and tax benefit is expected to be about 12 cents a share. Analysts are expecting earnings of $3.68 a share.

"Teleflex businesses delivered a strong quarter with solid revenue and core growth in all three segments," the company said. "The aerospace segment had double-digit topline growth and another quarter of operating profit improvement. We made good progress in the medical segment as operating margins continued to improve and business performance stayed ahead of the expectations we set for the quarter. And, our commercial segment executed well despite tough end markets in automotive and marine, posting a substantial year over year increase in operating profits."

Shares rose $1.35 to $61.91.

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