Teledyne Technologies Reports First Quarter Results
Teledyne Technologies today reported first quarter 2007 sales of
$385.6 million, compared with sales of $330.2 million for the same
period of 2006. Net income for the first quarter of 2007 was $20.5
million ($0.57 per diluted share), compared with net income of $17.9
million ($0.51 per diluted share) in the first quarter of 2006.
"Teledyne started 2007 with a great quarter. Operating margin
increased in each business segment compared to last year," said Robert
Mehrabian, chairman, president and chief executive officer. "In
addition, free cash flow of $24.2 million was very strong, even though
first quarter cash flow is often seasonally weak compared to other
periods. During the quarter, we acquired assets of D.G. O'Brien, Inc.,
a manufacturer of highly reliable subsea electronic interconnect
systems. Having acquired four marine instrumentation businesses in the
last two years, Teledyne has become a leader in this market."
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