Improvements in the commercial business contributed to Teledyne Technologies Inc. posting a 20 percent increase in net profits when compared to a year ago and to adjust its guidance for the year. The Thousand Oaks-based manufacturer and services provider for the defense, aviation, and energy industries reported net income of $25 million, or $0.68 per diluted share, on revenues of $439.2 million for the quarter ending April 4. For the same period in 2009, Teledyne reported net income of $20.8 million, or $0.57 per diluted share, on revenues of $440.3 million. The first quarter showed a rebound in the commercial businesses segment, which had been most impacted by last year’s recession, said Teledyne Chairman, President and CEO Robert Mehrabian. “Sales of environmental and industrial instrumentation, as well as aviation engines and parts, increased significantly,” Mehrabian said. The company adjusted the outlook of earnings per diluted share to $2.89 to $2.96 from an original forecast of $2.80 to $2.90. Mark R. Madler
