Exhibit 99.2
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Teleflex Incorporated | | | | | | | | | | | | | | |
As Adjusted Segment Results of Operations | | 2007 Quarter — (Unaudited) | | | | | | | 2007 Year to Date — (Unaudited) | |
To Reflect Discontinued Operations | | | | | | | | | | | | | | | | | 6 MTHS | | | 9 MTHS | |
| | 4/1 | | | 7/1 | | | 9/30 | | | | | | 7/1 | | | 9/30 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Revenues | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | $ | 103,194 | | | $ | 118,542 | | | $ | 116,990 | | | | | | | $ | 221,736 | | | $ | 338,726 | |
Medical | | | 226,889 | | | | 226,428 | | | | 227,825 | | | | | | | | 453,317 | | | | 681,142 | |
Aerospace | | | 110,257 | | | | 107,347 | | | | 113,747 | | | | | | | | 217,604 | | | | 331,351 | |
| | | | | | | | | | | | | | | | | | |
Total revenues | | $ | 440,340 | | | $ | 452,317 | | | $ | 458,562 | | | | | | | $ | 892,657 | | | $ | 1,351,219 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Segment operating profit (*) | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | $ | 5,528 | | | $ | 10,178 | | | $ | 2,304 | | | | | | | $ | 15,706 | | | $ | 18,010 | |
Medical | | | 48,609 | | | | 43,218 | | | | 50,448 | | | | | | | | 91,827 | | | | 142,275 | |
Aerospace | | | 12,586 | | | | 12,044 | | | | 7,544 | | | | | | | | 24,630 | | | | 32,174 | |
| | | | | | | | | | | | | | | | | | |
Total segment operating profit | | | 66,723 | | | | 65,440 | | | | 60,296 | | | | | | | | 132,163 | | | | 192,459 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Corporate expenses | | | 10,690 | | | | 12,376 | | | | 9,140 | | | | | | | | 23,066 | | | | 32,206 | |
(Gain) loss on sales of businesses and assets | | | (793 | ) | | | 2,121 | | | | (207 | ) | | | | | | | 1,328 | | | | 1,121 | |
Restructuring and impairment charges | | | 441 | | | | 1,081 | | | | 4,937 | | | | | | | | 1,522 | | | | 6,459 | |
Minority interest in consolidated subsidiaries | | | (7,108 | ) | | | (6,708 | ) | | | (7,200 | ) | | | | | | | (13,816 | ) | | | (21,016 | ) |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations before interest, taxes and minority interest | | | 63,493 | | | | 56,570 | | | | 53,626 | | | | | | | | 120,063 | | | | 173,689 | |
Interest expense, net | | | 7,904 | | | | 7,450 | | | | 5,292 | | | | | | | | 15,354 | | | | 20,646 | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations before taxes and minority interest | | | 55,589 | | | | 49,120 | | | | 48,334 | | | | | | | | 104,709 | | | | 153,043 | |
Taxes on income from continuing operations | | | 14,650 | | | | 9,166 | | | | 104,358 | | | | | | | | 23,816 | | | | 128,174 | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations before minority interest | | | 40,939 | | | | 39,954 | | | | (56,024 | ) | | | | | | | 80,893 | | | | 24,869 | |
Minority interest in consolidated subsidiaries | | | 7,108 | | | | 6,708 | | | | 7,200 | | | | | | | | 13,816 | | | | 21,016 | |
| | | | | | | | | | | | | | | | | | |
Income from continuing operations | | | 33,831 | | | | 33,246 | | | | (63,224 | ) | | | | | | | 67,077 | | | | 3,853 | |
Operating income from discontinued operations | | | 17,753 | | | | 93,217 | | | | 7,439 | | | | | | | | 110,970 | | | | 118,409 | |
Taxes on income from discontinued operations | | | 7,310 | | | | 32,602 | | | | 1,251 | | | | | | | | 39,912 | | | | 41,163 | |
| | | | | | | | | | | | | | | | | | |
Net income | | $ | 44,274 | | | $ | 93,861 | | | $ | (57,036 | ) | | | | | | $ | 138,135 | | | $ | 81,099 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | |
Basic: | | | | | | | | | | | | | | | | | | | | | | | | |
Income from continuing operations | | $ | 0.87 | | | $ | 0.85 | | | $ | (1.61 | ) | | | | | | $ | 1.71 | | | $ | 0.10 | |
Income from discontinued operations | | $ | 0.27 | | | $ | 1.55 | | | $ | 0.16 | | | | | | | $ | 1.82 | | | $ | 1.97 | |
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Net income | | $ | 1.13 | | | $ | 2.39 | | | $ | (1.45 | ) | | | | | | $ | 3.53 | | | $ | 2.07 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Diluted: | | | | | | | | | | | | | | | | | | | | | | | | |
Income from continuing operations | | $ | 0.86 | | | $ | 0.84 | | | $ | (1.61 | ) | | | | | | $ | 1.70 | | | $ | 0.10 | |
Income from discontinued operations | | $ | 0.27 | | | $ | 1.53 | | | $ | 0.16 | | | | | | | $ | 1.80 | | | $ | 1.95 | |
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Net income | | $ | 1.12 | | | $ | 2.37 | | | $ | (1.45 | ) | | | | | | $ | 3.49 | | | $ | 2.05 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Average number of common and common equivalent shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | |
Basic | | | 39,032 | | | | 39,221 | | | | 39,368 | | | | | | | | 39,126 | | | | 39,207 | |
Diluted | | | 39,403 | | | | 39,678 | | | | 39,368 | | | | | | | | 39,540 | | | | 39,638 | |
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(*) | | Segment operating profit includes 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. Unallocated corporate expenses, (gain) loss on sales of businesses and assets, restructuring and impairment charges, interest income and expense and taxes on income are excluded from the 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.
Pg 1
Exhibit 99.2
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Teleflex Incorporated | | | | | | | | | | | | | | | | | | | | | | | | | |
As Adjusted Segment Results of Operations | | 2006 Quarters — (Unaudited) | | | | | | | 2006 Year to Date — (Unaudited) | |
To Reflect Discontinued Operations | | | | | | | | | | | | | | | | | | | | | 6 MTHS | | | 9 MTHS | | | 12 MTHS | |
| | 3/26 | | | 6/25 | | | 9/24 | | | 12/31 | | | | | | 6/25 | | | 9/24 | | | 12/31 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | $ | 97,312 | | | $ | 112,688 | | | $ | 108,464 | | | $ | 108,297 | | | | | | | $ | 210,000 | | | $ | 318,464 | | | $ | 426,761 | |
Medical | | | 203,121 | | | | 217,761 | | | | 207,722 | | | | 230,072 | | | | | | | | 420,882 | | | | 628,604 | | | | 858,676 | |
Aerospace | | | 92,235 | | | | 95,256 | | | | 107,446 | | | | 110,435 | | | | | | | | 187,491 | | | | 294,937 | | | | 405,372 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total revenues | | $ | 392,668 | | | $ | 425,705 | | | $ | 423,632 | | | $ | 448,804 | | | | | | | $ | 818,373 | | | $ | 1,242,005 | | | $ | 1,690,809 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Segment operating profit (*) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | $ | 5,529 | | | $ | 9,784 | | | $ | 6,851 | | | $ | 8,334 | | | | | | | $ | 15,313 | | | $ | 22,164 | | | $ | 30,498 | |
Medical | | | 30,261 | | | | 37,335 | | | | 44,223 | | | | 49,888 | | | | | | | | 67,596 | | | | 111,819 | | | | 161,707 | |
Aerospace | | | 9,093 | | | | 8,116 | | | | 9,760 | | | | 13,255 | | | | | | | | 17,209 | | | | 26,969 | | | | 40,224 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total segment operating profit | | | 44,883 | | | | 55,235 | | | | 60,834 | | | | 71,477 | | | | | | | | 100,118 | | | | 160,952 | | | | 232,429 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Corporate expenses | | | 10,091 | | | | 8,284 | | | | 9,572 | | | | 17,497 | | | | | | | | 18,375 | | | | 27,947 | | | | 45,444 | |
(Gain) loss on sales of businesses and assets | | | (643 | ) | | | 1,828 | | | | (453 | ) | | | — | | | | | | | | 1,185 | | | | 732 | | | | 732 | |
Restructuring and impairment charges | | | 4,493 | | | | 7,990 | | | | 3,275 | | | | 6,565 | | | | | | | | 12,483 | | | | 15,758 | | | | 22,323 | |
Minority interest in consolidated subsidiaries | | | (5,249 | ) | | | (5,511 | ) | | | (6,206 | ) | | | (6,245 | ) | | | | | | | (10,760 | ) | | | (16,966 | ) | | | (23,211 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income from continuing operations before interest, taxes and minority interest | | | 36,191 | | | | 42,644 | | | | 54,646 | | | | 53,660 | | | | | | | | 78,835 | | | | 133,481 | | | | 187,141 | |
Interest expense, net | | | 8,209 | | | | 8,693 | | | | 8,389 | | | | 9,632 | | | | | | | | 16,902 | | | | 25,291 | | | | 34,923 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income from continuing operations before taxes and minority interest | | | 27,982 | | | | 33,951 | | | | 46,257 | | | | 44,028 | | | | | | | | 61,933 | | | | 108,190 | | | | 152,218 | |
Taxes on income from continuing operations | | | 6,895 | | | | 3,645 | | | | 13,689 | | | | 8,690 | | | | | | | | 10,540 | | | | 24,229 | | | | 32,919 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income from continuing operations before minority interest | | | 21,087 | | | | 30,306 | | | | 32,568 | | | | 35,338 | | | | | | | | 51,393 | | | | 83,961 | | | | 119,299 | |
Minority interest in consolidated subsidiaries | | | 5,249 | | | | 5,511 | | | | 6,206 | | | | 6,245 | | | | | | | | 10,760 | | | | 16,966 | | | | 23,211 | |
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Income from continuing operations | | | 15,838 | | | | 24,795 | | | | 26,362 | | | | 29,093 | | | | | | | | 40,633 | | | | 66,995 | | | | 96,088 | |
Operating income from discontinued operations | | | 19,951 | | | | 19,182 | | | | 11,619 | | | | 13,828 | | | | | | | | 39,133 | | | | 50,752 | | | | 64,580 | |
Taxes on income from discontinued operations | | | 6,683 | | | | 7,338 | | | | 2,015 | | | | 5,202 | | | | | | | | 14,021 | | | | 16,036 | | | | 21,238 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 29,106 | | | $ | 36,639 | | | $ | 35,966 | | | $ | 37,719 | | | | | | | $ | 65,745 | | | $ | 101,711 | | | $ | 139,430 | |
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Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income from continuing operations | | $ | 0.39 | | | $ | 0.62 | | | $ | 0.67 | | | $ | 0.75 | | | | | | | $ | 1.01 | | | $ | 1.67 | | | $ | 2.42 | |
Income from discontinued operations | | $ | 0.33 | | | $ | 0.29 | | | $ | 0.24 | | | $ | 0.22 | | | | | | | $ | 0.62 | | | $ | 0.87 | | | $ | 1.09 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 0.72 | | | $ | 0.91 | | | $ | 0.91 | | | $ | 0.97 | | | | | | | $ | 1.63 | | | $ | 2.54 | | | $ | 3.51 | |
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Diluted: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income from continuing operations | | $ | 0.39 | | | $ | 0.61 | | | $ | 0.67 | | | $ | 0.74 | | | | | | | $ | 1.00 | | | $ | 1.66 | | | $ | 2.40 | |
Income from discontinued operations | | $ | 0.33 | | | $ | 0.29 | | | $ | 0.24 | | | $ | 0.22 | | | | | | | $ | 0.62 | | | $ | 0.86 | | | $ | 1.08 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 0.72 | | | $ | 0.90 | | | $ | 0.91 | | | $ | 0.96 | | | | | | | $ | 1.62 | | | $ | 2.53 | | | $ | 3.49 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Average number of common and common equivalent shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic | | | 40,346 | | | | 40,244 | | | | 39,465 | | | | 38,983 | | | | | | | | 40,295 | | | | 40,019 | | | | 39,760 | |
Diluted | | | 40,626 | | | | 40,495 | | | | 39,566 | | | | 39,227 | | | | | | | | 40,577 | | | | 40,241 | | | | 39,988 | |
| | |
(*) | | Segment operating profit includes 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. Unallocated corporate expenses, (gain) loss on sales of businesses and assets, restructuring and impairment charges, interest income and expense and taxes on income are excluded from the 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.
Pg 2