(RTTNews) – Specialty medical devices provider Teleflex Incorporated (TFX) Thursday reported net income of $111.34 million or $2.35 per share in the second quarter, higher than $105.51 million or $2.23 per share in the same quarter a year ago, driven by revenue growth.
For the full year, the company has raised its revenue growth outlook.
Excluding one-time items, earnings were $3.41 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $3.21 per share. Analysts’ estimates typically exclude special items.
Net revenues for the quarter increased to $743.26 million from $704.54 million last year. The consensus estimate was for $729.91 million.
The company now expects full-year revenue to grow in the range of 5.80% – 6.55% compared with 4.65% – 5.90% guided earlier. Analysts expect revenue to grow 5.3% for the year.
The company also reaffirmed its adjusted EPS from continuing operations outlook of $13.00 – $13.60. The consensus estimate stands at $13.31 per share.
Teleflex shares are up more than 5% in pre-market trading. It closed at $248.61, down 0.27% on Wednesday. The stock has been trading in the range of $182.65 – $276.43 in the last 52 weeks.