Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 59

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
46.1$0.7 1.5 %$138.5$137.2$1.3 0.9 %Operating income$123.4$123.9$(0.5)(0.4)%$365.3$351.2$14.1 4.0 %As a percentage of net sales:Cost of sales55.4 %55.7 %55.9 %55.5 %Selling, general and administrative expense16.5 %16.6 %16.1 %16.8 %Research and development expense6.4 %5.6 %6.2 %6.0 %Acquired intangible asset amortization6.0 %6.0 %6.0 %6.1 %Operating income15.7 %16.1 %15.8 %15.6 %

Third quarter of 2025 compared with the third quarter of 2024

Net sales increased primarily due to higher sales of commercial infrared imaging components and subsystems, unmanned air systems, and industrial automation imaging systems, partially offset by lower sales of unmanned ground systems.  Sales of commercial infrared imaging components and subsystems increased $11.7 million, sales of unmanned air systems increased $7.5 million, sales of industrial automation imaging systems increased $5.0 million, and sales of unmanned ground systems decreased $7.2 million.

Cost of sales increased primarily due to higher net sales.  The cost of sales percentage decreased slightly during the period.  SG&A expense increased slightly, and SG&A expense as a percentage of net sales decreased slightly.  R&D expense and R&D expense as a percentage of net sales increased primarily due to the timing of FLIR product development activities, including higher R&D expense for unmanned air systems.  Acquired intangible asset amortization and acquired intangible asset amortization as a percentage of net sales remained reasonably consistent between the two periods.

Operating income decreased primarily due to higher R&D expense, partially offset by higher net sales.  As a result of the higher R&D expenses, operating income as a percentage of net sales decreased.

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

Net sales increased primarily due to higher sales of commercial infrared imaging components, unmanned air systems and surveillance systems, partially offset by lower sales of commercial infrared imaging systems, X-ray products, geospatial products and