Teleflex raises 2008 earnings outlook

Manufacturer Teleflex Inc. on Tuesday raised it 2008 earnings outlook after its second-quarter profit fell but still beat Wall Street expectations.

Teleflex expects profit from continuing operations between $3.90 to $4 per share, excluding special items. The company previously forecast income of $3.70 to $3.90 per share.

Chairman and Chief Executive Jeffrey P. Black said Teleflex was helped by sales growth in international markets and a more efficient integration of Arrow International, which it bought last year.

The company reported Tuesday that it earned $34.9 million, or 88 cents per share, in the second quarter, down from $93.9 million, or $2.37 per share, in the same quarter a year ago. Excluding charges, profit from continuing operations was $41.9 million, or $1.05 per share, beating the 92 cents per share projected by analysts polled by Thomson Financial.

Shares rose $6.93, or 12.6 percent, to $61.87 in morning trading. The stock has ranged from $47.21 to $81.17 over the past year.