THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Teledyne Technologies Inc. (TDY) on Wednesday reported first-quarter net income of $178.5 million.
On a per-share basis, the Thousand Oaks, California-based company said it had net income of $3.72. Earnings, adjusted for amortization costs and non-recurring costs, came to $4.55 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.64 per share.
The defense and aerospace industry supplier posted revenue of $1.35 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.4 billion.
For the current quarter ending in June, Teledyne expects its per-share earnings to range from $4.40 to $4.50.
The company expects full-year earnings in the range of $19.25 to $19.45 per share.
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