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

Teleflex Incorporated
Pro forma Segment Results of Operations	2004 - (Unaudited)															2005 - (Unaudited)
To Reflect Discontinued Operations													Full
	Q1			Q2			Q3			Q4			Year			Q1			Q2			Q3			YTD
Revenues
Commercial	$	313,347		$	322,568		$	267,620		$	297,313		$	1,200,848		$	303,808		$	314,706		$	270,173		$	888,687
Medical		148,190			155,974			202,461			229,727			736,352			209,901			217,956			196,553			624,410
Aerospace		115,742			113,697			105,858			117,914			453,211			109,891			124,347			120,664			354,902
	$	577,279		$	592,239		$	575,939		$	644,954		$	2,390,411		$	623,600		$	657,009		$	587,390		$	1,867,999
Operating profit (*)
Commercial	$	31,716		$	36,201		$	16,542		$	21,206		$	105,665		$	24,817		$	25,361		$	9,199		$	59,377
Medical		22,833			26,454			30,377			37,000			116,664			32,872			43,068			38,938			114,878
Aerospace		1,447			(5,515	)		2,512			(8,963	)		(10,519	)		1,963			6,570			11,521			20,054
		55,996			57,140			49,431			49,243			211,810			59,652			74,999			59,658			194,309
Corporate expenses		6,561			6,527			7,585			11,215			31,888			6,955			6,165			3,579			16,699
Minority interest in consolidated subsidiaries		(4,112	)		(4,764	)		(4,457	)		(5,886	)		(19,219	)		(4,698	)		(5,181	)		(5,318	)		(15,197	)
(Gain) loss on sales of businesses and assets		—			(5,083	)		563			1,787			(2,733	)		—			—			(5,569	)		(5,569	)
Restructuring costs		—			—			—			67,618			67,618			7,294			6,653			5,776			19,723
Income (loss) from continuing operations before interest, taxes and minority interest		53,547			60,460			45,740			(25,491	)		134,256			50,101			67,362			61,190			178,653
Interest expense, net		6,775			6,145			12,590			11,608			37,118			11,088			10,565			9,798			31,451
Income (loss) from continuing operations before taxes and minority interest		46,772			54,315			33,150			(37,099	)		97,138			39,013			56,797			51,392			147,202
Taxes (benefit) on income (loss) from continuing operations		11,105			13,464			5,209			(16,983	)		12,795			9,450			13,478			10,360			33,288
Income (loss) from continuing operations before minority interest		35,667			40,851			27,941			(20,116	)		84,343			29,563			43,319			41,032			113,914
Minority interest in consolidated subsidiaries		4,112			4,764			4,457			5,886			19,219			4,698			5,181			5,318			15,197
Income (loss) from continuing operations		31,555			36,087			23,484			(26,002	)		65,124			24,865			38,138			35,714			98,717
Operating income (loss) from discontinued operations		(1,727	)		(2,100	)		(7,551	)		(56,884	)		(68,262	)		21,368			(13,424	)		(4,299	)		3,645
Taxes (benefit) from discontinued operations		356			(178	)		(1,560	)		(11,273	)		(12,655	)		7,507			(4,259	)		(2,185	)		1,063
Net income (loss)	$	29,472		$	34,165		$	17,493		$	(71,613	)	$	9,517		$	38,726		$	28,973		$	33,600		$	101,299
Earnings (losses) per share:
Basic:
Income (loss) from continuing operations		0.79			0.90			0.58			(0.64	)		1.62			0.61			0.94			0.88			2.43
Income (loss) from discontinued operations		(0.05	)		(0.05	)		(0.15	)		(1.13	)		(1.38	)		0.34			(0.23	)		(0.05	)		0.06
Net income (loss)		0.74			0.85			0.43			(1.77	)		0.24			0.96			0.71			0.83			2.50
Diluted:
Income (loss) from continuing operations		0.78			0.89			0.58			(0.64	)		1.61			0.61			0.93			0.87			2.41
Income (loss) from discontinued operations		(0.05	)		(0.05	)		(0.15	)		(1.12	)		(1.37	)		0.34			(0.22	)		(0.05	)		0.06
Net income (loss)		0.73			0.84			0.43			(1.77	)		0.24			0.95			0.71			0.82			2.47
Average number of common and common equivalent shares outstanding:
Basic		39,990			40,195			40,273			40,361			40,205			40,453			40,635			40,569			40,552
Diluted		40,457			40,538			40,414			40,571			40,495			40,699			41,031			41,185			40,972

(*) 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 sales 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.

Certain financial information is presented on a rounded basis, which may cause minor differences.