Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 110

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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Segment results include net sales and operating income by segment but exclude corporate office expenses.  Corporate expense primarily includes various administrative expenses relating to our corporate office that are not allocated to our segments.  See Note 3 to these condensed consolidated financial statements for additional segment information.

28

Digital Imaging

Third QuarterChangeNine MonthsChange(dollars in millions)20252024$%20252024$%Net sales$785.4$768.4$17.0 2.2 %$2,313.4$2,248.6$64.8 2.9 %Cost of sales$435.1$427.9$7.2 1.7 %$1,294.2$1,247.7$46.5 3.7 %Selling, general and administrative expense$129.4$127.9$1.5 1.2 %$372.4$377.9$(5.5)(1.5)%Research and development expense$50.7$42.6$8.1 19.0 %$143.0$134.6$8.4 6.2 %Acquired intangible asset amortization$46.8$46.1$0.7 1.5 %$138.5$137.2$1.3 0.9 %Operating income$123.4$123.9$(0.5)(0.4)%$365.3$351.2$14.1 4.0 %As a percentage of net sales:Cost of sales55.4 %55.7 %55.9 %55.5 %Selling, general and administrative expense16.5 %16.6 %16.1 %16.8 %Research and development expense6.4 %5.6 %6.2 %6.0 %Acquired intangible asset amortization6.0 %6.0 %6.0 %6.1 %Operating income15.7 %16.1 %15.8 %15.6 %

Third quarter of 2025 compared with the third quarter of 2024

Net sales increased primarily due to higher sales of commercial infrared imaging components and subsystems, unmanned air systems, and industrial automation imaging systems, partially offset by lower sales of unmanned ground systems.  Sales of commercial