Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 53

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1A
Chunk 53
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 and on our ability to continue to attract, retain and motivate qualified personnel.  The lack of human capital due to very competitive labor market conditions in certain regions could impact our ability to deliver products and services.  The skilled manufacturing and specialized engineering labor market is currently very competitive.  A significant portion of our revenue depends on the availability of a highly skilled technical workforce.  It is critical that we retain, develop, and grow our workforce to protect future revenue and improve our competitive advantage.  

We also have a mature workforce.  Some of our businesses, including our businesses in engineered systems as well as in traveling wave tube and integrated microwave module design and development, draw from a pool of specialized engineering talent that is small and, in some cases, currently shrinking.  Some of our businesses have a need for employees with a certain level of security clearance, and competition for such employees has increased.  While we have engaged in succession planning, the loss of the services of one or more of our key employees or our failure to attract, retain and motivate qualified personnel could have a material adverse effect on our business, financial condition and results of operations.

Our business and financial results could be adversely affected by conditions and other factors associated with our suppliers and subcontractors.

Some items we purchase for the manufacture of our products are purchased from limited or single sources of supply due to technical capability, price and other factors.  Furthermore, sole source supply is more common among our businesses that are heavily involved in research and development because there can be few suppliers in the world capable of producing the products or providing the services with the right highly specialized technology.  We have also outsourced from time to time the manufacturing of certain parts, components, subsystems and even finished products to single or limited sources, including international sources.  Disruption of these sources or supplier-imposed rationing of scarce components could cause delays or reductions in shipments of our products or increases in our costs, which could have an adverse effect on our financial condition or operations.  International sources pose additional risks, some of which are similar to those described above regarding international sales.  With any continuing disruption in the global economy and financial markets, some of our suppliers may also continue to face issues gaining access to sufficient credit and materials to maintain their businesses, which could reduce the availability of some components and, to the extent such suppliers are single source suppliers, could adversely affect our ability to continue to manufacture and sell our products.  Some companies engage subcontractors to perform a portion of the services we provide to our customers.  To