Company: TDY
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001094285-25-000105
Chunk: 76

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 against the U.S. dollar.  See Note 13 for additional discussion around our derivative instruments and hedging activities used to mitigate these impacts.

As part of a continuing effort to reduce costs and improve operating performance, we continue to take actions to consolidate and relocate certain facilities and reduce head count across various businesses, reducing our exposure to weaker end markets.  We continue to seek cost reductions in our businesses.

21

Results of Operations

  First Quarter%(dollars in millions)20252024ChangeNet sales$1,449.9 $1,350.1 7.4 %Costs and expensesCost of sales830.4 770.2 7.8 %Selling, general and administrative233.9 219.7 6.5 %Research and development74.3 76.5 (2.9)%Acquired intangible asset amortization52.0 49.4 5.3 %Total costs and expenses1,190.6 1,115.8 6.7 %Operating income (loss)259.3 234.3 10.7 %Interest and debt income (expense), net(17.3)(12.7)36.2 %Non-service retirement benefit income (expense)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