May 3, 2018 / 10:53 AM / 2 months ago

BRIEF-Teleflex Reports Q1 Adjusted Earnings Per Share $2.15 From Continuing Operations

May 3 (Reuters) - Teleflex Inc:

* TELEFLEX REPORTS FIRST QUARTER 2018 RESULTS

* Q1 ADJUSTED EARNINGS PER SHARE $2.15 FROM CONTINUING OPERATIONS

* Q1 GAAP EARNINGS PER SHARE $1.18 FROM CONTINUING OPERATIONS

* Q1 REVENUE $587.2 MILLION VERSUS I/B/E/S VIEW $568.9 MILLION

* Q1 EARNINGS PER SHARE VIEW $1.94 -- THOMSON REUTERS I/B/E/S

* RAISED 2018 GUIDANCE RANGE FOR GAAP REVENUE GROWTH FROM A RANGE OF BETWEEN 14% AND 15% TO A RANGE OF BETWEEN 15% AND 16%

* REAFFIRMED 2018 GUIDANCE RANGE FOR CONSTANT CURRENCY REVENUE GROWTH OF BETWEEN 12% AND 13%

* LOWERED 2018 GUIDANCE FOR GAAP DILUTED EPS FROM A RANGE OF BETWEEN $7.10 AND $7.20 TO A RANGE OF BETWEEN $5.45 AND $5.55

* RAISED 2018 GUIDANCE FOR ADJUSTED DILUTED EPS FROM A RANGE OF BETWEEN $9.55 AND $9.75 TO A RANGE OF BETWEEN $9.70 AND $9.90

* NEW RESTRUCTURING PLAN TO FURTHER IMPROVE COMPANY COST STRUCTURE ANNOUNCED

* FY2018 EARNINGS PER SHARE VIEW $9.66, REVENUE VIEW $2.45 BILLION -- THOMSON REUTERS I/B/E/S

* ON MAY 1, CO INITIATED A RESTRUCTURING PLAN INVOLVING RELOCATION OF CERTAIN MANUFACTURING OPERATIONS TO AN EXISTING LOWER-COST LOCATION

* ON MAY 1, CO INITIATED A RESTRUCTURING PLAN INVOLVING OUTSOURCING OF CERTAIN DISTRIBUTION OPERATIONS AND RELATED WORKFORCE REDUCTIONS

* ON A CONSTANT CURRENCY BASIS, CO REAFFIRMED ITS FULL YEAR 2018 GUIDANCE RANGE OF BETWEEN 12% AND 13% OVER PRIOR YEAR

* TELEFLEX - ACTIONS UNDER THE MAY 1 RESTRUCTURING PLAN ARE EXPECTED TO COMMENCE IN Q2 AND ARE EXPECTED TO BE SUBSTANTIALLY COMPLETED BY END OF 2024

* TELEFLEX - SEES CO INCURRING PRE-TAX RESTRUCTURING & RESTRUCTURING RELATED CHARGES IN CONNECTION WITH MAY 1 RESTRUCTURING PLAN OF $102 MILLION TO $133 MILLION

* EXPECT TO INCUR $19 MILLION TO $23 MILLION IN AGGREGATE CAPITAL EXPENDITURES UNDER THE MAY 1 RESTRUCTURING PLAN Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below