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Thursday, Mar 28, 2024

Teledyne Income Up 34 Percent In Q2

Teledyne Technologies Inc. saw an increase in revenues in its four main divisions for the second quarter. The mix of commercial and government work in aerospace, engineering services, electronic instruments and energy and power systems gives Teledyne a favorable position in uncertain economic times, company officials said. “The offshore energy, hydrographic survey and other industries served by our marine electronics businesses now represent Teledyne’s second largest end market, second only to the defense market,” said Chairman, President and CEO Robert Mehrabian. For the quarter ending June 29, the Thousand Oaks-based company reported a net income of $32.6 million, or $0.89 per diluted share, on revenues of $478.8 million. That is a 34 percent increase from the net income of $24.3 million, or $0.67 per diluted share, on revenues of $400.3 million for the same period in 2007. Anticipated sales growth in defense and electronics and instrumentation businesses resulted in the company updating its full year outlook on share value to the range f $3.20 to $3.25 from $2.98 to $3.06.

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