Teledyne Technologies Inc Q1 Profit Drops 22%

(RTTNews) - Teledyne Technologies Inc (TDY) revealed a profit for first quarter that lost ground compared to the same period last year.

The company said its profit fell to $30.5 million, or $0.84 per share. This was lower than $39.0 million, or $1.11 per share, in last year's first quarter.

Analysts had expected the company to earn $1.03 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 6.7% to $566.1 million. This was up from $530.5 million last year.

Teledyne Technologies Inc earnings at a glance:

-Earnings (Q1): $30.5 Mln. vs. $39.0 Mln. last year. -Earnings Decline (Y-o-Y): -21.8% -EPS (Q1): $0.84 vs. $1.11 last year. -EPS Decline (Y-o-Y): -24.3% -Analysts Estimate: $1.03 -Revenue (Q1): $566.1 Mln vs. $530.5 Mln last year. -Revenue Change (Y-o-Y): 6.7%

-Guidance: Next quarter EPS guidance: $1.27 - $1.32 Full year EPS guidance: $5.76 - $5.86