International sales were a bright spot in the first quarter for Teledyne Technologies Inc., a manufacturer for the aerospace, defense, and energy industries.
The Thousand Oaks-based firm received 40 percent of first quarter revenues from international sales, which gives the company a greater global profile, company officials said.
For the quarter ending March 31, Teledyne reported net income of $35.7 million, or $0.96 per diluted share on revenues of $494 million. That is an 11.5 percent increase from the net income of $32 million, or $0.86 per diluted share, on revenues of $468.1 million for the same period a year ago.
The digital imaging business segment showed the highest growth in revenues with $94.2 million in the first quarter compared to the $66.2 million from the first quarter 2011. Through acquisitions, Teledyne has boosted its portfolio of visible, infrared, X-ray and ultraviolet sensors.
The aerospace and defense electronics division and the engineered services division had a decrease in revenues in the first quarter when compared to a year ago. The instrumentation division grew revenues by 1.7 percent to $160.6 million in the first quarter compared to the $157.9 million from a year ago.
Mark R. Madler