This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Teledyne Technologies Reports Second Quarter Results

Teledyne Technologies Incorporated (NYSE:TDY):
  • All-time record quarterly sales of $518.5 million
  • All-time record earnings per share of $1.06
  • Acquired a majority interest in Optech on April 2, 2012
  • Acquired BlueView Technologies, Inc. on July 2, 2012
  • Announced agreement to acquire LeCroy
  • Affirming full year 2012 GAAP earnings outlook of $3.98 to $4.04 per share, despite estimated non-recurring charges of $8.3 million for acquisitions, including the pending acquisition of LeCroy

Teledyne today reported second quarter 2012 sales from continuing operations of $518.5 million, compared with sales of $502.9 million for the second quarter of 2011, an increase of 3.1%. Net income from continuing operations was $39.5 million ($1.06 per diluted share) for the second quarter of 2012, compared with $38.7 million ($1.04 per diluted share) for the second quarter of 2011, an increase of 2.1%. Net income attributable to Teledyne was $39.5 million ($1.06 per diluted share) for the second quarter of 2012, compared with $152.3 million ($4.08 per diluted share) for the second quarter of 2011. The second quarter of 2011 included income from discontinued operations of $113.6 million, which included a gain on the sale of discontinued operations of $113.8 million.

“We performed well this quarter, achieving record sales and earnings per share. Despite some challenges in the global economy, orders exceeded sales and quarter-end backlog was a record at over $1.0 billion,” said Robert Mehrabian, chairman, president and chief executive officer. “We also closed the acquisitions of BlueView Technologies and a majority interest in Optech. The combination of BlueView’s scanning sonar along with Optech’s light detection and ranging, or LIDAR, systems allow Teledyne to generate detailed three dimensional images ranging from space-based applications to viewing structures on the ocean floor. Finally, we remain excited about the pending acquisition of LeCroy Corporation. LeCroy will add a leader in electronic test and measurement solutions to our analytical instrumentation businesses. In addition, LeCroy provides market access and design capabilities to leverage our unique technology in analog and mixed signal design devices developed at Teledyne Scientific Company, our R&D laboratories.”

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.05 0.06%
FB $102.36 2.80%
GOOG $690.15 1.80%
TSLA $147.01 -0.84%
YHOO $27.47 2.40%


Chart of I:DJI
DOW 16,030.61 +16.23 0.10%
S&P 500 1,863.83 +11.62 0.63%
NASDAQ 4,317.0120 +48.2490 1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs