Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 61

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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$(0.2)(5.7)%$9.8$10.5$(0.7)(6.7)%Operating income$98.8$96.3$2.5 2.6 %$293.1$269.5$23.6 8.8 %As a percentage of net sales:Cost of sales51.2 %51.0 %50.9 %51.3 %Selling, general and administrative expense14.0 %13.8 %14.0 %14.3 %Research and development expense6.7 %6.7 %6.9 %6.8 %Acquired intangible asset amortization0.9 %1.0 %0.9 %1.0 %Operating income27.2 %27.5 %27.3 %26.6 %

Third quarter of 2025 compared with the third quarter of 2024

Net sales increased due to higher sales in each product line.  Sales of Environmental Instrumentation increased $8.1 million primarily due to stronger sales of gas detection products.  Sales of Marine Instrumentation increased $5.3 million due to stronger offshore energy and defense markets and sales of Test and Measurement Instrumentation increased $0.4 million.

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

Operating income increased primarily due to higher Environmental Instrumentation sales and operating income as a percentage of net sales decreased primarily due to unfavorable product mix.

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

Net sales increased due to higher sales in each product line.  Sales of Marine Instrumentation increased $43.0 million due to stronger offshore energy and defense markets.  Sales of Environmental Instrumentation increased $12.3 million primarily due to stronger sales of gas detection products and sales of Test and Measurement Instrumentation increased $5.5 million.  The first nine months of 2025 included $5.5 million in incremental sales from recent acquisitions.

Cost of sales increased primarily due to higher net sales, partially offset by favorable product mix.  The cost of sales percentage decreased due