Teleflex (TFX) 8-K Results of Operations and Financial Condition

Exhibit 99.1

Teleflex Incorporated
Pro forma Segment Results of Operations
To Reflect Discontinued Operations

	2004 - (Unaudited)
													Full
	Q1			Q2			Q3			Q4			Year
Revenues
Commercial	$	313,347		$	322,568		$	267,620		$	297,313		$	1,200,848
Medical		150,600			158,245			204,824			232,526			746,195
Aerospace		115,742			113,697			105,858			117,914			453,211
	$	579,689		$	594,510		$	578,302		$	647,753		$	2,400,254
Operating profit (*)
Commercial	$	31,716		$	36,201		$	16,542		$	21,206		$	105,665
Medical		22,906			26,498			30,465			37,296			117,165
Aerospace		1,447			(5,515	)		2,512			(8,963	)		(10,519	)
		56,069			57,184			49,519			49,539			212,311
Corporate expenses		6,561			6,527			7,585			11,215			31,888
Minority interest in consolidated subsidiaries		(4,112	)		(4,764	)		(4,457	)		(5,886	)		(19,219	)
(Gain) loss on sale of businesses and assets		—			(5,083	)		563			1,787			(2,733	)
Restructuring costs		—			—			—			67,618			67,618
Income (loss) from continuing operations before interest, taxes and minority interest		53,620			60,504			45,828			(25,195	)		134,757
Interest expense		6,775			6,145			12,590			11,608			37,118
Income (loss) from continuing operations before taxes and minority interest		46,845			54,359			33,238			(36,803	)		97,639
Tax (benefit) on income from continuing operations		11,138			13,487			5,249			(16,868	)		13,006
Income (loss) from continuing operations before minority interest		35,707			40,872			27,989			(19,935	)		84,633
Minority interest in consolidated subsidiaries		4,112			4,764			4,457			5,886			19,219
Income (loss) from continuing operations		31,595			36,108			23,532			(25,821	)		65,414
Operating loss from discontinued operations		(1,800	)		(2,144	)		(7,639	)		(57,180	)		(68,763	)
Tax (benefit) from discontinued operations		323			(201	)		(1,600	)		(11,388	)		(12,866	)
Net income	$	29,472		$	34,165		$	17,493		$	(71,613	)	$	9,517
Earnings per share:
Basic:
Income (loss) from continuing operations		0.79			0.90			0.58			(0.64	)		1.63
Loss from discontinued operations		(0.05	)		(0.05	)		(0.15	)		(1.13	)		(1.39	)
Net income		0.74			0.85			0.43			(1.77	)		0.24
Diluted:
Income (loss) from continuing operations		0.78			0.89			0.58			(0.64	)		1.62
Loss from discontinued operations		(0.05	)		(0.05	)		(0.15	)		(1.13	)		(1.38	)
Net income		0.73			0.84			0.43			(1.77	)		0.24
Average number of common and common equivalent shares outstanding:
Basic		39,990			40,195			40,273			40,361			40,205
Diluted		40,457			40,538			40,414			40,571			40,495

(*) Segment operating profit is defined as 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. Corporate expenses, (gain) loss on sale of businesses and assets, restructuring costs, interest expense and taxes are excluded from this measure.

These discontinued operations have not historically been separately identified, consolidated and audited as presented in this schedule.

The sum of the quarterly per share amounts may not equal per share amounts reported for year-to-date periods. This is due to changes in the number of weighted average shares outstanding and the effects of rounding for each period.