Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 58

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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— %$100.0$97.3$2.7 2.8 %Research and development expense$25.7$22.4$3.3 14.7 %$49.9$45.2$4.7 10.4 %Acquired intangible asset amortization$3.3$3.6$(0.3)(8.3)%$6.5$7.0$(0.5)(7.1)%Operating income$101.6$87.2$14.4 16.5 %$194.3$173.2$21.1 12.2 %As a percentage of net sales:Cost of sales50.8 %51.0 %50.7 %51.3 %Selling, general and administrative expense13.7 %15.1 %14.1 %14.7 %Research and development expense7.0 %6.7 %7.0 %6.8 %Acquired intangible asset amortization0.9 %1.1 %0.9 %1.1 %Operating income27.6 %26.1 %27.3 %26.1 %

Second quarter of 2025 compared with the second quarter of 2024

Net sales increased due to higher sales in each product line.  Sales of Marine Instrumentation increased $23.7 million due to stronger offshore energy and defense markets.  Sales of Environmental Instrumentation increased $6.4 million and sales of Test and Measurement Instrumentation increased $4.0 million.

Cost of sales increased primarily due to higher net sales.  The cost of sales percentage decreased slightly.  SG&A expense was consistent between the two periods, and SG&A expense as a percentage of net sales decreased primarily due to maintaining cost control measures year-over-year.  R&D expense increased due to higher Marine Instrumentation product development, and the R&D expense as a percentage of net sales increased slightly.

Operating income increased primarily due to higher Marine Instrumentation sales and favorable product mix, and operating income as a percentage of net sales increased primarily due to favorable product mix.

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

Net sales increased due to higher sales in each product line.  Sales of Marine Instrumentation increased $37.7 million due to stronger offshore energy and defense markets.  Sales