Teledyne Awarded $9.9 Million Marine Systems Contract
THOUSAND OAKS, Calif. – October 9, 2014 – Teledyne Technologies Incorporated (NYSE:TDY) today announced that its Teledyne Webb Research business unit has been awarded a five year Indefinite Delivery Indefinite Quantity (IDIQ) contract for the procurement of Autonomous Profiling Explorer (APEX) profiling floats by the U.S. Naval Oceanographic Office (NAVOCEANO) with a contract value of $9.9 million, including options.
The APEX is a marine system used for persistent measurements of water column properties. Commonly measured parameters, including temperature and salinity at different depths in the ocean, feed numerical climate and weather prediction models. Newer systems are also able to measure dissolved oxygen, turbidity, chlorophyll, nutrient content and other important constituents helping scientists better understand the ocean and human influence on this ecosystem.
“We are proud to be the leading supplier of autonomous profiling floats, having delivered more than 8,000 systems since 1982,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “Our broad portfolio of marine systems, including profiling floats, battery-powered autonomous underwater vehicles and market-leading autonomous gliding vehicles, provides a range of sensing systems to the scientific, defense, and oil and gas communities.”
Over 2,000 APEX floats are currently sampling the global oceans. APEX floats are among the most energy efficient persistent autonomous marine systems available, with some lasting over seven years at sea.
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 Information 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 government spending resulting from future deficit reduction measures.