UPDATE 1-Teleflex Q1 profit beats Wall Street

* Q1 adj EPS $0.90 vs est. $0.89

* Q1 rev $436.5 mln vs est. $454.7 mln

* Sees 2010 adj EPS $4.10-$4.25 vs est $4.14

April 27 (Reuters) - Diversified manufacturer Teleflex Inc (TFX.N) posted first-quarter profit that beat market expectations by a penny on better margins at its medical segment, and forecast 2010 earnings largely above estimates.

For 2010, the company forecast adjusted earnings of $4.10 per share to $4.25 per share, on revenue of $1.90 billion.

Analysts were expecting the company to earn $4.14 per share, on revenue of $1.93 billion, according to Thomson Reuters I/B/E/S.

For the first quarter, Teleflex reported net income from continuing operations of $35.6 million, or 89 cents a share, compared with $24.4 million, or 61 cents a share.

Excluding items, the company earned 90 cents a share.

Revenue fell 1 percent to $436.5 million.

Analysts on an average were expecting the company to earn 89 cents a share, on revenue of $454.7 million.

Operating margin at its medical segment was 21.4 percent, compared with 20.7 percent in the year ago.

Shares of the company closed at $64.85 Monday on the New York Stock Exchange. (Reporting by Megha Mandavia in Bangalore; Editing by Unnikrishnan Nair)