WASHINGTON (dpa-AFX) - Medical technology products provider Teleflex Inc. (TFX) on Tuesday reported a loss for the first quarter, hurt by a hefty impairment charge.
The company reported a net loss attributable to common shareholders of $283.74 million or $6.96 per share compared to a profit of $77.81 million or $1.92 per share last year.
GAAP loss per share from continuing operations was $6.97, as compared to earnings per share of $0.34 in the prior year period.
The latest results reflected a goodwill impairment charge of $332.1 million.
Adjusted earnings per share from continuing operations increased to $1.01 from $0.88, reflecting additional sales volume, improved pricing, and gross profit expansion.
On average, 6 analysts polled by Thomson Reuters expected earnings of $0.97 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues increased 9.5 percent to $387.8 million from $354 million. Analysts expected revenues of $371.11 million.
The company reaffirmed its previously announced 2012 constant currency revenue growth and adjusted earnings per share ranges.
Adjusted earnings per share are expected in the range of $4.25 to $4.45 and constant currency revenue growth is estimated to be between 4 percent and 6 percent.
Wall Street looks for full year earnings of $4.36 per share on revenues of $1.59 billion.
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