Teledyne Technologies Inc. beat Wall Street estimates on earnings and revenue in the fourth quarter.The Thousand Oaks aerospace, marine and digital imaging products manufacturer on Wednesday reported net income of $132 million ($3.48 a share) for the quarter ending Jan. 3, compared with net income of $116 million ($3.06) in the same period a year earlier. Revenue decreased by 3 percent to $809 million.Analysts on average expected earnings of $3.11 a share on revenue of $802 million, according to Thomson Financial Network.Executive Chairman Robert Mehrabian said the quarter ended a year in which the company had its best-ever earnings, cash flow and operating margin. For over two decades Teledyne has consistency and predictably compounded earnings and cash flow, he added.“Nevertheless, I have never been more excited about Teledyne’s future,” Mehrabian said in a statement. “On the first day of fiscal 2021, we announced the pending acquisition of Flir (Systems Inc.) for $8 billion. Across digital imaging and unmanned systems, Flir will add uniquely complementary technologies, products, customers and applications to Teledyne’s proven business model.”Shares in Teledyne (TDY) closed up $3.94, or just more 1 percent, to $387.62 on the New York Stock Exchange on Wednesday, a day when the major market indexes were each down more than 2 percent.