Company: TDY
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001094285-25-000105
Chunk: 39

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 39
---
)2.8 2.7 3.7 %Other income (expense), net(5.9)1.2 *Income before income taxes238.9 225.5 5.9 %Provision (benefit) for income taxes50.1 46.4 8.0 %Net income (loss) including noncontrolling interest188.8 179.1 5.4 %Less: Net income (loss) attributable to noncontrolling interest0.2 0.6 (66.7)%Net income (loss) attributable to Teledyne$188.6 $178.5 5.7 %

 * Not meaningful

First Quarter%(dollars in millions)20252024ChangeNet sales (a):Digital Imaging$757.0 $740.8 2.2 %Instrumentation343.3 330.4 3.9 %Aerospace and Defense Electronics242.5 185.7 30.6 %Engineered Systems107.1 93.2 14.9 %Total net sales$1,449.9 $1,350.1 7.4 %Operating income (loss):Digital Imaging$122.3 $113.8 7.5 %Instrumentation92.7 86.0 7.8 %Aerospace and Defense Electronics55.7 51.9 7.3 %Engineered Systems 10.8 2.7 300.0 %Corporate expense(22.2)(20.1)10.4 %Total operating income (loss)$259.3 $234.3 10.7 %

(a) Net sales exclude inter-segment sales of $3.8 million and $4.8 million for the first quarter of 2025 and 2024, respectively.

22

First Quarter Results

The following is a discussion of our 2025 first quarter results compared with the first quarter results of 2024.  Comparisons are with the corresponding reporting period of 2024 unless noted otherwise.

First quarter of 2025 compared with the first quarter of 2024

Our first quarter of 2025 net sales increased 7.4%.  Net income attributable to Teledyne for the first quarter of 2025 increased 5.7%, driven primarily by higher net sales.  Net income per diluted share was $3