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We present an analytical model for performance prediction of flexible manufacturing systems (FMSs) with a single discrete material-handling device (MHD). This configuration of FMS is significant for many reasons: it is commonly found in industry, it simplifies material-handling control, it is amenable to analytical modeling, and it forms a building block for more complex systems. Standard queueing models are inadequate to analyze this configuration because of the need to take into consideration many nontrivial issues such as state-dependent routing, interference from the MHD, and the analysis of the MHD. To account for state-dependent routing, we develop an iterative method that is built around mean value analysis. To analyze the MHD interference, we use two queueing network models. In the first, we ignore queueing at the MHD but model the interference from the MHD by inflating the station service times. The second network models the queueing for the MHD and estimates the blocking (inflation) times needed for the first model. By iterating between the two networks, we are able to predict the performance of this configuration of FMS. Our analytical estimates are validated against discrete event simulation and shown to be quite accurate for initial system design. [ABSTRACT FROM AUTHOR]