Electronics components and aerospace engine manufacturer Teledyne Technologies Inc. finished its fiscal year with a 22 percent increase in net profits. The Thousand Oaks-based company reported net income of $98.5 million, or $2.72 per diluted share, on revenues of $1,622 million for the 2007 fiscal year. For the previous year, the company had a net income of $80.3 million, or $2.26 per diluted share, on revenues of $1,433 million. The company has been on a buying spree of late with subsidiaries acquiring firms with complementary services. In January, Teledyne Reynolds Inc. bought out Storm Products Co., a maker of microwave components and defense interconnect products. In December, Teledyne Scientific & Imaging LLC acquired Judson Technologies, a manufacturer of infrared detectors; while Teledyne Instruments Inc. purchased Impulse Enterprise, manufacturer of underwater electrical interconnection systems.
