Company: TDY
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0001094285-25-000131
Chunk: 11

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 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 %3.1 %2.8 %2.8 %Acquired intangible asset amortization 1.9 %0.1 %1.7 %0.1 %Operating income 25.2 %29.4 %24.1 %28.7 %

* Not meaningful

Second quarter of 2025 compared with the second quarter of 2024

Net sales increased due to a $72.6 million increase in defense electronics,