Teleflex Posts Mixed Earnings (TFX)

Teleflex Incorporated TFX reports Q3 earnings of $0.98 versus consensus of $0.97. Teleflex Incorporated reports revenues of $443 million versus consensus of $449.84 million. Diluted adjusted EPS from continuing operations was $1.11 per share, including tax benefit of $0.13 per share. Gross margins were 45.8%. TFX expects its full year 2010 total revenues to be approximately $1.8 billion, and now expects its full year 2010 diluted earnings per share from continuing operations excluding special items to be in the range of $4.00 to $4.10. "Our third quarter results reflect continued progress towards the achievement of our longer-term growth and profitability objectives," said Jeffrey P. Black, Chairman and Chief Executive Officer. "Our medical segment core revenue growth was two percent and our gross margins further expanded year-over-year. We continued to invest in research and development and sales and marketing initiatives that we believe will position Teleflex for sustainable, profitable growth in the future."