Teledyne Technologies Inc Q1 Profit Decreases, misses estimates

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

The company's earnings came in at $178.5 million, or $3.72 per share. This compares with $178.7 million, or $3.73 per share, in last year's first quarter.

Excluding items, Teledyne Technologies Inc reported adjusted earnings of $218.3 million or $4.55 per share for the period.

Analysts on average had expected the company to earn $4.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.2% to $1.35 billion from $1.38 billion last year.

Teledyne Technologies Inc earnings at a glance (GAAP) :

-Earnings (Q1): $178.5 Mln. vs. $178.7 Mln. last year. -EPS (Q1): $3.72 vs. $3.73 last year. -Revenue (Q1): $1.35 Bln vs. $1.38 Bln last year.

-Guidance: Next quarter EPS guidance: $4.40 to $4.50 Full year EPS guidance: $19.25 to $19.45