Teledyne Technologies Inc Q2 Income Declines 5%

(RTTNews) - Teledyne Technologies Inc (TDY) announced a profit for second quarter that lost ground from last year.

The company said its profit totaled $45.7 million, or $1.31 per share. This was down from $48.3 million, or $1.34 per share, in last year's second quarter.

Analysts had expected the company to earn $1.24 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.7% to $534.9 million. This was down from $573.6 million last year.

Teledyne Technologies Inc earnings at a glance:

-Earnings (Q2): $45.7 Mln. vs. $48.3 Mln. last year. -Earnings Decline (Y-o-Y): -5.4% -EPS (Q2): $1.31 vs. $1.34 last year. -EPS Decline (Y-o-Y): -2.2% -Analysts Estimate: $1.24 -Revenue (Q2): $534.9 Mln vs. $573.6 Mln last year. -Revenue Change (Y-o-Y): -6.7%

-Guidance: Full year EPS guidance: $5.10 - $5.20