Teledyne Reports Strong Q1 Earnings

The acquisition of a camera and sensors manufacturer contributed to Teledyne Technologies Inc. having higher net income in the first quarter when compared to a year ago. Thousand Oaks-based Teledyne completed its purchase of DALSA Corp. in February for $336 million. The newly renamed Teledyne DALSA division brought in $32.4 million in revenue. Overall, Teledyne reported net income of $32 million, or $0.86 per diluted share, on revenues of $468.1 million for the quarter ending April 3. For the same period in 2010, the company reported net income of $25 million, or $0.68 per diluted share, on revenues of $404.9 million. Teledyne has taken steps recently to solidify its electronics, instrumentation and engineering business units. This month, the company finalized the sale of its piston engine business in a deal worth $186 million, and also invested in a the parent company of Canada-based Optech Inc., a developer of laser-based survey and digital imaging instrumentation. Mark R. Madler