Teledyne Technologies to Present at the Raymond James Third Annual Government IT Summit
LOS ANGELES - November 18, 2003 - Teledyne Technologies Incorporated (NYSE:TDY) announced that James Link, president of Teledyne Brown Engineering, Inc., and Jason VanWees, director of corporate development and investor relations, will make a presentation at the Raymond James Third Annual Government IT Summit on Wednesday, November 19, at 3:25 p.m. (Eastern) at The Ritz-Carlton Hotel in Washington, D.C.
Copies of Teledyne Technologies' latest investor presentation will be publicly available on the company's website at www.teledyne.com prior to the scheduled meeting.
Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom and Mexico. For more information, visit Teledyne Technologies' website at www.teledyne.com.
Teledyne's investor relations presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to earnings, growth opportunities, capital expenditures, pension matters and strategic plans. Actual results could differ materially from these forward-looking statements. Many factors, including changes in demand for products sold to the semiconductor, communications and commercial aviation markets, timely development of acceptable and competitive fuel cell products and systems, funding, continuation and award of government programs, customers' acceptance of piston engine insurance-related price increases, continued liquidity of the company's customers (including commercial airline customers) and economic and political conditions, could change the anticipated results.
Global responses to terrorism and other perceived threats increase uncertainties associated with forward-looking statements about the company's businesses. Various responses could realign government programs, and affect the composition, funding or timing of the company's programs. Reinstatement of flight restrictions would negatively impact the market for general aviation aircraft piston engines and components.
The events of September 11th and various public company governance issues have had adverse impacts on the insurance markets greatly increasing insurance costs, including the company's one-year renewal of its aircraft product liability insurance policy. In addition, stock market fluctuations affect the value of the company's pension assets. Absent significant further improvement in market conditions, the company will be required to make a contribution to its pension plan in 2004.
The company continues to take action to assure compliance with the internal controls, disclosure controls and other requirements of the Sarbanes-Oxley Act of 2002. While the company believes its control systems are effective, there are inherent limitations in all control systems, and misstatements due to error or fraud may occur and not be detected.
While Teledyne Technologies' growth strategy includes possible acquisitions, the company cannot provide any assurance as to when, if or on what terms any acquisitions will be made. Acquisitions, including the recent acquisitions of Tekmar Company and the Aviation Information Solutions businesses, involve various inherent risks, such as, among others, the company's ability to integrate acquired businesses and to achieve identified financial and operating synergies. Also, the company may not be able to sell or exit timely or on acceptable terms its remaining non-core or under-performing product lines, particularly given the current economic environment.
Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Teledyne Technologies' periodic filings with the Securities and Exchange Commission, including its 2002 Annual Report on Form 10-K and its Forms 10-Q. The Company assumes no duty to update forward-looking statements.