Printer Friendly

TELEFLEX REPORTS THIRD QUARTER AND NINE MONTH RESULTS; STRONG REVENUE GAINS IN BOTH PERIODS

 TELEFLEX REPORTS THIRD QUARTER AND NINE MONTH RESULTS;
 STRONG REVENUE GAINS IN BOTH PERIODS
 PLYMOUTH MEETING, Pa., Oct. 15 /PRNewswire/ -- Teleflex Incorporated (AMEX: TFX) today reported that revenues for the third quarter ended Sept. 27, 1992, increased 19 percent to $138,032,000 compared to $115,958,000 for the same three months a year ago.
 Net income increased 4 percent to $6,168,000 or $.36 per share for the quarter compared to $5,910,000 or $.35 per share last year.
 Revenues for the nine months of 1992 increased 22 percent to $419,681,000 compared to $345,291,000 last year. Net income rose 6 percent to $22,707,000 or $1.33 per share compared to $21,326,000 or $1.27 per share for the same period last year.
 Lennox K. Black, chairman and chief executive officer, said, "The deterioration of the worldwide economy has created a slower-growth climate for businesses in general. While this has affected some of our markets, Teleflex has been able to sustain its sales momentum, to increase its market share in many cases, and to maintain a healthy cash flow. The results achieved in the first nine months of 1992 validate our strategy of balance and diversification. In fact, strong sales gains and relatively good increases in operating profits in our Commercial and Medical Segments more than offset a decline in sales and operating profit in the Aerospace Segment."
 TELEFLEX INCORPORATED
 COMPARATIVE SUMMARY OF REVENUES AND EARNINGS
 (Unaudited)
 Three Months Ended Sept. 27, 1992 Sept. 29, 1991
 Revenues $138,032,000 $115,958,000
 Income before taxes $9,400,000 $8,995,000
 Net income $6,168,000 $5,910,000
 Earnings per share $.36 $.35
 Average shares outstanding 17,137,000 16,915,000
 Nine Months Ended Sept. 27, 1992 Sept. 29, 1991
 Revenues $419,681,000 $345,291,000
 Income before taxes $34,536,000 $32,280,000
 Net income $22,707,000 $21,326,000
 Earnings per share $1.33 $1.27
 Average shares outstanding 17,130,000 16,818,000
 Separately, Black commented on the outcome of a recent management review of more than two dozen development projects in which the company has been investing for future growth. "We felt it prudent to re- evaluate these areas of investment in the new context of an increasingly competitive and slower-growth climate worldwide," said Black. As a result of this review, it was decided that the company will concentrate its resources on a number of key projects which management believes have the potential to yield significant payback over the next few years. These opportunities include such areas as new product development in automotive and marine, the penetration of niche aerospace markets, and the expansion of distribution channels for medical products.
 "Our analysis also resulted in a decision to halt or to postpone further investment in certain projects, or to sell our interest in them," said Mr. Black. The disposition of one such investment gave rise to a modest charge of approximately $550,000 or $.03 per share to third quarter earnings.
 Teleflex is a diversified manufacturer with interests in three major business segments: aerospace, medical and commercial. The company specializes in solving engineering problems by the development and application of its proprietary technologies in these three markets.
 /delval/
 -0- 10/15/92
 /CONTACT: Janine Dusossoit, director of Investor Relations of Teleflex, 215-834-6301/
 (TFX) CO: Teleflex Incorporated ST: Pennsylvania IN: ARO MTC SU: ERN


MK -- PH038 -- 0556 10/15/92 15:18 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 15, 1992
Words:584
Previous Article:GOTTSCHALKS ANNOUNCES SEPTEMBER SALES RESULTS
Next Article:AMERICAN ELECTRIC POWER THIRD QUARTER EARNINGS DECREASE
Topics:


Related Articles
TELEFLEX REPORTS 1992 RESULTS; EIGHTEENTH CONSECUTIVE YEAR OF RECORD EARNINGS
TELEFLEX REPORTS INCREASED SECOND QUARTER AND FIRST HALF RESULTS
TELEFLEX REPORTS FIRST QUARTER EARNINGS
TELEFLEX REPORTS THIRD QUARTER RESULTS; NET INCOME INCREASED 25% OVER LAST YEAR
TELEFLEX REPORTS 1994 RESULTS; TWENTIETH CONSECUTIVE YEAR OF RECORD REVENUES AND EARNINGS
TELEFLEX REPORTS THIRD QUARTER RESULTS; REVENUES INCREASE 9%, NET INCOME UP 12%
Teleflex Reports Third Quarter Results; Net Income Up 22% 0n Modest Revenue Gain
Teleflex Reports Second Quarter Results; Revenues Increase 18%, Net Income Up 21%
Teleflex Reports Net Income Up 38% in Third Quarter; Revenues Increase 31%
Teleflex Reports Strong Third Quarter Results; Net Income Up 17%; Revenues Increase 22%.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters