Teledyne Technologies Inc Q1 Profit Decreases, but beats estimates

(RTTNews) - Teledyne Technologies Inc (TDY) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $178.7 million, or $3.73 per share. This compares with $212.6 million, or $4.46 per share, in last year's first quarter.

Excluding items, Teledyne Technologies Inc reported adjusted earnings of $217.2 million or $4.53 per share for the period.

Analysts on average had expected the company to earn $4.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.7% to $1.383 billion from $1.321 billion last year.

Teledyne Technologies Inc earnings at a glance (GAAP) :

-Earnings (Q1): $178.7 Mln. vs. $212.6 Mln. last year. -EPS (Q1): $3.73 vs. $4.46 last year. -Analyst Estimates: $4.43 -Revenue (Q1): $1.383 Bln vs. $1.321 Bln last year.

-Guidance: Next quarter EPS guidance: $4.56-$4.66 Full year EPS guidance: $19.00-$19.20