Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 61

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 and operating income as a percent of net sales decreased primarily due to higher transaction and integration costs, higher acquired intangible asset amortization and unfavorable product mix including lower gross margins on sales from 2025 acquisitions.

30

Engineered Systems

Second QuarterChangeSix MonthsChange(dollars in millions)20252024$%20252024$%Net sales$110.3$106.8$3.5 3.3 %$217.4$200.0$17.4 8.7 %Cost of sales$91.6$92.8$(1.2)(1.3)%$181.8$175.3$6.5 3.7 %Selling, general and administrative expense$6.3$6.4$(0.1)(1.6)%$12.4$14.3$(1.9)(13.3)%Research and development expense$0.3$0.1$0.2 200.0 %$0.3$0.2$0.1 50.0 %Operating income$12.1$7.5$4.6 61.3 %$22.9$10.2$12.7 124.5 %As percentage of net sales:Cost of sales83.0 %86.9 %83.7 %87.7 %Selling, general and administrative expense5.7 %6.0 %5.7 %7.1 %Research and development expense0.3 %0.1 %0.1 %0.1 %Operating income11.0 %7.0 %10.5 %5.1 %

Second quarter of 2025 compared with the second quarter of 2024

Net sales increased due to higher sales of $4.0 million for engineered products, partially offset by a $0.5 million decrease in energy systems.

Cost of sales and cost of sales as a percentage decreased primarily due to favorable program mix.  SG&A expense and SG&A expense as a percentage of net sales decreased slightly.

Operating income and operating income as a percentage of net sales increased primarily due to higher net sales and favorable program mix.

First six months of 2025 compared with the first six months of 2024

Net sales increased due to higher sales of $18.2 million for engineered products, partially offset by a $0.