Teledyne Awarded $30.1 Million Contract for Aircrew Laser Eye Protection
THOUSAND OAKS, Calif. – July 22, 2016 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Scientific & Imaging, LLC (TS&I), was awarded a $30.1 million contract by the United States Air Force to fabricate, test and deliver Aircrew Laser Eye Protection (ALEP) Block 2 spectacles. The initial value of the contract is $6.4 million and $30.1 million including options. Deliveries will commence in the fourth quarter of 2016 and are expected to be complete by December 2020.
“For over 15 years, Teledyne has designed and developed specialized eyewear to protect aircrews from loss of vision caused by a variety of laser devices,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “We are very pleased to continue supplying the nation’s warfighters with this important technology.”
About Teledyne Scientific & Imaging
Teledyne Scientific & Imaging is a high-technology enterprise with world-class research and development capabilities in imaging sensors, materials technology, electronics, and information science. TS&I performs research services for the U.S. Government and private sector companies, and manufactures and sells high value products that result from its research and development efforts. For more information on TS&I, visit our website at www.teledyne-si.com.
About Teledyne Technologies
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies’ operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne Technologies’ website at www.teledyne.com.
Forward-Looking Statements Cautionary Notice
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a contract award. Actual results could differ materially from these forward-looking statements. Many factors could change anticipated results, including funding, continuation and award of government programs, as well as cuts to defense spending resulting from future deficit reduction measures. Various risks, including risks associated with government contracts, are identified in Teledyne’s 2015 Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.