Teleflex (TFX) 8-K Completion of Acquisition or Disposition of Assets

Exhibit 99.1

TELEFLEX INCORPORATED AND SUBSIDIARIES
UNAUDITED PRO FORMA FINANCIAL INFORMATION

On March 20, 2009, Teleflex Holding Singapore Pte. Ltd. (“Teleflex Singapore”), a subsidiary of Teleflex Incorporated (the “Company”), completed the sale of its 51 percent share of Airfoil Technologies International — Singapore Pte. Ltd. (“ATI Singapore”) to GE Pacific Private Limited for $300 million. ATI Singapore, which provides engine repair products and services for critical components of flight turbines, was part of a joint venture between General Electric Company (“GE”) and the Company. The Company and GE are also parties to an agreement that will permit the Company to transfer its ownership interest in the remaining ATI business (together with ATI Singapore, the “ATI Business”) to GE by the end of 2009. The ATI Business meets the criteria for reporting discontinued operations under Statement of Financial Accounting Standards (“SFAS”) No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets.”

The unaudited pro forma condensed Statements of Income give effect to the closing of the transaction as if the sale had been consummated at the beginning of the fiscal year ended December 31, 2006. The unaudited pro forma condensed Balance Sheet gives effect to the closing of the transaction as if the sale had been consummated on December 31, 2008. As such, the resulting gain or loss as reported in the unaudited pro forma condensed Balance Sheet as of December 31, 2008 may be different than the gain or loss that will be recognized by the Company upon the completion date of the transaction.

The pro forma results for the condensed Balance Sheet show a portion of the net cash proceeds of $190 million from the divestiture of the ATI Business as a repayment of the Term Loan Facility and the revolving line of credit under the Company’s Credit Agreement as if the repayment occurred on December 31, 2008. As a result of the repayment, the Balance Sheet also reflects the write-off of $1.1 million of the deferred financing costs related to the Term Loan Facility proportionate to the amount of the loan repayment.

The unaudited pro forma condensed financial statements described above should be read in conjunction with the historical financial statements of the Company and the related notes thereto. The unaudited pro forma information is not necessarily indicative of the financial position or results of operations that may have actually occurred had the transaction taken place on the dates noted, or the future financial position or operating results of the Company.

TELEFLEX INCORPORATED AND SUBSIDIARIES
PRO FORMA CONDENSED STATEMENTS OF INCOME
(Unaudited)

	Year Ended December 31, 2008
	As Reported			Disposition			Pro Forma
	(Dollars and shares in thousands, except per share)
Net revenues	$	2,420,949		$	(257,428	)A	$	2,163,521
Materials, labor and other product costs		1,456,782			(167,184	)A		1,289,598
Gross profit		964,167			(90,244	)		873,923
Selling, engineering and administrative expenses		596,773			(17,531	)A		579,242
Restructuring and other impairment charges		27,701			—			27,701
Gain on sales of businesses and assets		(296	)		—			(296	)
Income from continuing operations before interest, taxes and minority interest		339,989			(72,713	)		267,276
Interest expense		121,647			(26	)A
					(9,726	)B		111,895
Interest income		(2,635	)		325	A		(2,310	)
Income from continuing operations before taxes and minority interest		220,977			(63,286	)		157,691
Taxes on income from continuing operations		52,169			(2,079	)A
					3,404	C		53,494
Income from continuing operations before minority interest		168,808			(64,611	)		104,197
Minority interest in consolidated subsidiaries, net of tax		34,828			(34,081	)A		747
Income from continuing operations	$	133,980		$	(30,530	)	$	103,450
Earnings per share:
Basic:
Income from continuing operations	$	3.38		$	(0.77	)	$	2.61
Diluted:
Income from continuing operations	$	3.36		$	(0.77	)	$	2.60
Weighted average common shares outstanding:
Basic		39,584						39,584
Diluted		39,832						39,832

NOTES TO UNAUDITED PRO FORMA CONDENSED FINANCIAL STATEMENTS

Note A Reflects the elimination of the operations of the ATI business.

Note B Reflects the reduction in interest expense on the term loan facility and revolving line of credit, resulting from application of a portion of the proceeds on the sale of the ATI business.

	(Dollars in thousands)
Lower interest expense on the term loan facility and revolving line of credit	$	9,342
Lower amortization expense of debt issuance costs related to the term loan facility		384
	$	9,726
Note C    Reflects the tax effect on the interest adjustment in Note B	$	3,404

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TELEFLEX INCORPORATED AND SUBSIDIARIES
PRO FORMA CONDENSED STATEMENTS OF INCOME
(Unaudited)

	Year Ended December 31, 2007
	As Reported			Disposition			Pro Forma
	(Dollars and shares in thousands, except per share)
Net revenues	$	1,934,332		$	(253,975	)A	$	1,680,357
Materials, labor and other product costs		1,253,978			(179,710	)A		1,074,268
Gross profit		680,354			(74,265	)		606,089
Selling, engineering and administrative expenses		445,254			(15,523	)A		429,731
In-process research and development charge		30,000			—			30,000
Goodwill impairment		18,896			—			18,896
Restructuring and other impairment charges		11,352			(1,333	)A		10,019
Loss on sales of businesses and assets		1,110			—			1,110
Income from continuing operations before interest, taxes and minority interest		173,742			(57,409	)		116,333
Interest expense		74,876			(192	)A
					(3,425	)B		71,259
Interest income		(10,482	)		906	A		(9,576	)
Income from continuing operations before taxes and minority interest		109,348			(54,698	)		54,650
Taxes on income from continuing operations		122,767			(13,647	)A
					1,227	C		110,347
Loss from continuing operations before minority interest		(13,419	)		(42,278	)		(55,697	)
Minority interest in consolidated subsidiaries, net of tax		28,949			(28,424	)A		525
Loss from continuing operations	$	(42,368	)	$	(13,854	)	$	(56,222	)
Earnings per share:
Basic:
Loss from continuing operations	$	(1.08	)	$	(0.35	)	$	(1.43	)
Diluted:
Loss from continuing operations	$	(1.08	)	$	(0.35	)	$	(1.43	)
Weighted average common shares outstanding:
Basic		39,259						39,259
Diluted		39,259						39,259

NOTES TO UNAUDITED PRO FORMA CONDENSED FINANCIAL STATEMENTS

Note A Reflects the elimination of the operations of the ATI business.

Note B Reflects the reduction in interest expense on the term loan facility and revolving line of credit from the inception date of the borrowing, October 1, 2007, through December 31, 2007, resulting from application of a portion of the proceeds on the sale of the ATI business.

	(Dollars in thousands)
Lower interest expense on the term loan facility and revolving line of credit	$	3,324
Lower amortization expense of debt issuance costs related to the term loan facility		101
	$	3,425
Note C    Reflects the tax effect on the interest adjustment in Note B	$	1,227

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TELEFLEX INCORPORATED AND SUBSIDIARIES
PRO FORMA CONDENSED STATEMENTS OF INCOME
(Unaudited)

	Year Ended December 31, 2006
	As Reported			Disposition			Pro Forma
	(Dollars and shares in thousands, except per share)
Net revenues	$	1,690,809		$	(250,335	)A	$	1,440,474
Materials, labor and other product costs		1,105,652			(180,058	)A		925,594
Gross profit		585,157			(70,277	)		514,880
Selling, engineering and administrative expenses		374,961			(17,769	)A		357,192
Goodwill impairment		1,003			—			1,003
Restructuring and other impairment charges		21,320			(1,709	)A		19,611
Loss on sales of businesses and assets		732			—			732
Income from continuing operations before interest, taxes and minority interest		187,141			(50,799	)		136,342
Interest expense		41,200			(1,210	)A		39,990
Interest income		(6,277	)		—			(6,277	)
Income from continuing operations before taxes and minority interest		152,218			(49,589	)		102,629
Taxes on income from continuing operations		32,919			(2,753	)A		30,166
Income from continuing operations before minority interest		119,299			(46,836	)		72,463
Minority interest in consolidated subsidiaries, net of tax		23,211			(23,525	)A		(314	)
Income from continuing operations	$	96,088		$	(23,311	)	$	72,777
Earnings per share:
Basic:
Income from continuing operations	$	2.42		$	(0.59	)	$	1.83
Diluted:
Income from continuing operations	$	2.40		$	(0.58	)	$	1.82
Weighted average common shares outstanding:
Basic		39,760						39,760
Diluted		39,988						39,988

NOTES TO UNAUDITED PRO FORMA CONDENSED FINANCIAL STATEMENTS

Note A Reflects the elimination of the operations of the ATI business which was sold to GE.

The 2006 pro forma entries do not include interest and deferred financing adjustments as the related debt was not incurred until October 1, 2007.

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TELEFLEX INCORPORATED AND SUBSIDIARIES
PRO FORMA CONDENSED BALANCE SHEETS
(Unaudited)

	As of December 31, 2008
	As Reported		Disposition			Pro Forma
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	107,275	$	300,000	A	$
				(190,049	)B		217,226
Accounts receivable, net		311,908		(28,469	)A		283,439
Inventories, net		424,653		(18,353	)A		406,300
Prepaid expenses		21,373		(585	)A		20,788
Income taxes receivable		17,958		—			17,958
Deferred tax assets		66,009		(293	)A		65,716
Assets held for sale		8,210		—			8,210
Total current assets		957,386		62,251			1,019,637
Property, plant and equipment, net		374,292		(27,697	)A		346,595
Goodwill		1,474,123		(268	)A		1,473,855
Intangibles and other assets		1,090,852		(1,261	)A
				(1,144	)B		1,088,447
Investments in affiliates		28,105		(11,870	)A		16,235
Deferred tax assets		1,986		(745	)A		1,241
Total assets	$	3,926,744	$	19,266		$	3,946,010
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Current borrowings	$	108,853	$	(102,180	)B	$	6,673
Accounts payable		139,677		(9,840	)A		129,837
Accrued expenses		125,183		(8,465	)A
				375	A		117,093
Payroll and benefit-related liabilities		83,129		(5,580	)A		77,549
Derivative liabilities		27,370		(851	)A		26,519
Accrued interest		26,888		—			26,888
Income taxes payable		12,613		(2,591	)A
				95,259	A
				(400	)B		104,881
Deferred tax liabilities		2,227		—			2,227
Total current liabilities		525,940		(34,273	)		491,667
Long-term borrowings		1,437,538		(87,869	)B		1,349,669
Deferred tax liabilities		324,678		(320	)A
				111	A		324,469
Pension and postretirement benefit liabilities		169,841		—			169,841
Other liabilities		182,864		(3,270	)A		179,594
Total liabilities		2,640,861		(125,621	)		2,515,240
Minority interest in equity of consolidated subsidiaries		39,428		(35,159	)A		4,269
Commitments and contingencies Shareholders’ equity		1,246,455		180,790	A
				(744	)B		1,426,501
Total liabilities and shareholders’ equity	$	3,926,744	$	19,266		$	3,946,010

The accompanying notes are an integral part of these unaudited pro forma condensed financial statements

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TELEFLEX INCORPORATED AND SUBSIDIARIES
NOTES TO UNAUDITED PRO FORMA CONDENSED FINANCIAL STATEMENTS

Pro Forma Balance Sheet as of December 31, 2008

Note A      Reflects the proceeds, the elimination of the assets and liabilities and the adjustments to record the sale of the ATI business.

	(Dollars in thousands)
Cash — proceeds	$	300,000
Accrued expenses — professional fees		(375	)
Income taxes payable — for taxes on sale of business units		(95,259	)
Noncurrent deferred tax liability		(111	)
Net assets and liabilities of business units sold		(23,465	)
Cumulative translation related to business units sold included in the gain		6,773
Gain on sale of business units sold		187,563
Reclassification of cumulative translation related to business units sold included in the gain		(6,773	)
	$	180,790

Note B Reflects a partial repayment of the term loan facility and the revolving line of credit from a portion of the proceeds on the sale of the ATI business, the write-off of the term loan facility’s deferred financing costs in proportion to the repayment of the term loan and the tax effects related to the write-off of the financing costs.

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