Teledyne Technologies Reports Third Quarter Results
Teledyne Technologies today reported third quarter 2007 sales of $408.9 million, compared with sales of $363.6 million for the same period of 2006. Net income for the third quarter of 2007 was $27.1 million ($0.75 per diluted share), compared with net income of $22.6 million ($0.63 per diluted share) in the third quarter of 2006.
"Teledyne achieved record sales and earnings in the third quarter of 2007," said Robert Mehrabian, chairman, president and chief executive officer. "Operating margin increased 95 basis points, and earnings per share increased 19.0% compared with last year. In addition, record free cash flow of $46.2 million significantly exceeded net income. Due to our continued focus on operational excellence and targeted acquisitions, Teledyne, has become a leading electronics and engineered systems provider in a number of attractive aerospace and defense, offshore energy and environmental markets."
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Investor Contact: Jason VanWees (805) 373-4542
Press Contact: Robyn McGowan (805) 373-4540