UPDATE 3-Teleflex raises '09 EPS view, shares rise

lunes 27 de julio de 2009 19:56 CEST
 

* Q2 EPS $0.96 ex-items vs est $0.88/shr

* Rev falls 14 pct

* Raises 2009 earnings forecast

* Shares rise 6 pct (Recasts; adds details, analyst comments, updates share movement)

By Bhaswati Mukhopadhyay

BANGALORE, July 27 (Reuters) - Diversified manufacturer Teleflex Inc (TFX.N: Cotización) raised its 2009 earnings outlook, driven by expectations of core revenue growth in its medical business in the second half of the year, sending its shares up 6 percent.

Analysts expect the company to divest its aerospace and commercial businesses and become a pure-play medical company.

"I think Teleflex will be pure-play medical in the next two to three years," analyst Paul Joseph Mammola of Sidoti & Co said.

Teleflex -- which makes engineered products for medical, commercial and aerospace markets -- now sees 2009 income from continuing operations of $3.40 to $3.60 per share, excluding special charges, compared with its prior view of $3.25 to $3.55.   Continuación...