Teleflex Incorporated (ticker: TFX, exchange: New York Stock Exchange (.N))
News Release -
Teleflex comments on Arrow International Worldwide Voluntary Recall
for the 5800 Series Intra-Aortic Balloon Catheters with Super
Arrow-Flex(R) Sheath Introducers
LIMERICK, Pa., Dec 21, 2010 (BUSINESS WIRE) --
Teleflex Incorporated's subsidiary, Arrow International, today announced
a worldwide voluntary recall of its 5800 Series Intra-Aortic Balloon
Catheters with Super Arrow-Flex(R) Sheath Introducer. This recall
is being conducted because of an increase of "stuck in sheath" reports
involving the use of the Super Arrow-Flex(R) Sheath with 5800
Series IAB products. The U.S. Food and Drug Administration has
classified this action as a Class I recall.
Teleflex does not anticipate this recall to have an impact on its
previously provided 2010 financial outlook. In 2010, this recall is
expected to result in a reduction in Teleflex's consolidated revenue and
diluted earnings per share of approximately $2 million to $3 million,
and $0.05 to $0.07, respectively. In addition, for 2011, we expect this
to result in a loss of anticipated revenue for this product of
approximately $5 million to $6 million, and an associated reduction in
diluted earnings per share of approximately $0.06 to $0.08.
About Teleflex Incorporated
Teleflex Incorporated (NYSE: TFX) is a global provider of medical
technology products that enable healthcare providers to improve patient
outcomes, reduce infections and support patient and provider safety.
Teleflex, which employs approximately 12,800 people worldwide, also has
niche businesses that serve segments of the aerospace and commercial
markets with specialty engineered products. Additional information about
Teleflex can be obtained from the company's website at www.teleflex.com.
This press release contains forward-looking statements, including, but
not limited to, statements relating to the expected impact of the recall
with respect to 2010 and 2011 revenue and diluted earnings per share.
Actual results could differ materially from those in these
forward-looking statements due to, among other things, conditions in the
end markets we serve, customer reaction to the recall and unanticipated
difficulties, expenditures and delays in connection with the resolution
of issues related to the recall; changes in general and international
economic conditions; and other factors described in Teleflex's filings
with the Securities and Exchange Commission, including our Annual Report
on Form 10K.
SOURCE: Teleflex Incorporated
Vice President Investor Relations