Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 59

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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 of Test and Measurement Instrumentation increased $5.1 million, and sales of Environmental Instrumentation increased $4.2 million.  The first six months of 2025 included $4.3 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 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 the 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.

29

Aerospace and Defense Electronics

Second QuarterChangeSix MonthsChange(dollars in millions)20252024$%20252024$%Net sales$264.8$194.4$70.4 36.2 %$507.3$380.1$127.2 33.5 %Cost of sales$154.2$107.5$46.7 43.4 %$298.4$215.4$83.0 38.5 %Selling, general and administrative expense$30.8$23.5$7.3 31.1 %$64.0$44.5$19.5 43.8 %Research and development expense$8.2$6.1$2.1 34.4 %$14.2$10.8$3.4 31.5 %Acquired intangible asset amortization$5.0$0.2$4.8 *$8.4$0.4$8.0 *Operating income$66.6$57.1$9.5 16.6 %$122.3$109.0$13.3 12.2 %As a percentage of net sales:Cost of sales58.2 %55.3 %58.8 %56.7 %Selling, general and administrative expense11.6 %12.1 %12.6 %11.7 %Research and development expense3.1 %3