Teledyne Technologies Inc Q3 Income Retreats 13%

(RTTNews) - Teledyne Technologies Inc (TDY) released earnings for third quarter that declined compared to the same period last year.

The company said its profit dropped to $48.3 million, or $1.34 per share. This was lower than $55.6 million, or $1.47 per share, in last year's third quarter.

Analysts had expected the company to earn $1.31 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.6% to $555.4 million. This was down from $601.1 million last year.

Teledyne Technologies Inc earnings at a glance:

-Earnings (Q3): $48.3 Mln. vs. $55.6 Mln. last year. -Earnings Decline (Y-o-Y): -13.1% -EPS (Q3): $1.34 vs. $1.47 last year. -EPS Decline (Y-o-Y): -8.8% -Analysts Estimate: $1.31 -Revenue (Q3): $555.4 Mln vs. $601.1 Mln last year. -Revenue Change (Y-o-Y): -7.6%

-Guidance: Next quarter EPS guidance: $1.25 - $1.30 Full year EPS guidance: $5.13 - $5.18