UPDATE 2-Teleflex posts higher profit, reaffirms '09 view

* Q1 EPS $0.76 from cont ops, ex items vs $0.63 est

* Q1 rev $469.7 mln vs $528.9 mln est

* Reaffirms 2009 EPS outlook, growth of 4 pct to 14 pct

* Shares up 8 pct

(Adds conference call details, share movement, analyst comments)

April 28 (Reuters) - Diversified manufacturer Teleflex Inc (TFX.N) posted a higher quarterly profit that beat analysts' expectations, and reaffirmed its 2009 profit outlook, sending its shares up 8 percent.

The company benefited from a lower-than-expected tax rate, which when combined with lower interest expense contributed to the company meeting first quarter forecasts, Janney Montgomery Scott analyst James Lucas said in a note.

For the first quarter, net income was $215.5 million, or $5.40 a share, compared with $22.9 million, or 58 cents a share, a year ago. Income from continuing operations excluding special charges was $0.76 per share.

Revenue fell 13 percent to $469.7 million, below Street view of $528.9 million. Medical segment revenue fell 9 percent to was $340.5 million in the quarter.

For 2009, the company sees earnings of $3.25 to $3.55 a share, excluding items. Analysts were looking for $3.36.

"We expect top line core revenue growth of our medical segment to improve as we move through the year and the cost containment initiatives that have been put in place in our aerospace and commercial segments to continue to pay benefits," the company said on a conference call.

"Despite the challenges seen in the non-medical businesses, the company is making gains on the cost side and medical should see a rebound in the top line going forward," Lucas wrote.

Shares of the company were up $3.26 at $42.80 in afternoon trade on the New York Stock Exchange. (Reporting by Eric Yep and A.Ananthalakshmi in Bangalore; Editing by Jarshad Kakkrakandy)