Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 62

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 to favorable product mix.  SG&A expense increased primarily due to higher net sales, 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 R&D expense as a percentage of net sales increased slightly.

Operating income increased primarily due to higher net sales and favorable product mix.  Operating income as a percentage of net sales increased primarily due to favorable product mix and slower SG&A growth as compared to stronger net sales growth.

30

Aerospace and Defense Electronics

Third QuarterChangeNine MonthsChange(dollars in millions)20252024$%20252024$%Net sales$275.5$200.2$75.3 37.6 %$782.8$580.3$202.5 34.9 %Cost of sales$162.5$111.8$50.7 45.3 %$460.9$327.2$133.7 40.9 %Selling, general and administrative expense$29.4$25.0$4.4 17.6 %$93.4$69.5$23.9 34.4 %Research and development expense$8.2$6.9$1.3 18.8 %$22.4$17.7$4.7 26.6 %Acquired intangible asset amortization$5.0$0.2$4.8 *$13.4$0.6$12.8 *Operating income$70.4$56.3$14.1 25.0 %$192.7$165.3$27.4 16.6 %As a percentage of net sales:Cost of sales59.0 %55.9 %58.9 %56.4 %Selling, general and administrative expense10.7 %12.5 %11.9 %12.0 %Research and development expense3.0 %3.4 %2.9 %3.0 %Acquired intangible asset amortization 1.7 %0.1 %1.7 %0.1 %Operating income 25.6 %28.1 %24.6 %28.5 %

* Not meaningful

Third quarter of 2025