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Thursday, Mar 28, 2024

Teledyne Ups Earnings Guidance

Teledyne Technologies Inc. restated its earnings guidance for the year due to anticipated growth in its defense-related business units. The Thousand Oaks-based manufacturer expects earnings per share in the range of approximately $2.98 to $3.06, an increase from the prior outlook of $2.86 to $2.94. The company expects growth in the defense electronics and instrumentation businesses as a result of recent acquisitions. Acquisitions in the marine and environmental instrumentation businesses contributed to Teledyne posting positive results for the first quarter. The company reported a net income of $27.9 million, or $0.77 per diluted share, on revenues of $451.8 million. That is a 36 percent increase from the net income of $20.5 million, or $0.57 per diluted share, on revenues of $385.6 million for the same period in 2007.

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