Teledyne Technologies Inc Reports 12% Retreat In Q1 Earnings

(RTTNews) - Teledyne Technologies Inc (TDY) reported earnings for first quarter that decreased compared to the same period last year.

The company said its profit fell to $38.4 million, or $1.10 per share. This was lower than $43.7 million, or $1.20 per share, in last year's first quarter.

Analysts had expected the company to earn $1.08 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.1% to $530.5 million. This was down from $565.0 million last year.

Teledyne Technologies Inc earnings at a glance:

-Earnings (Q1): $38.4 Mln. vs. $43.7 Mln. last year. -Earnings Decline (Y-o-Y): -12.1% -EPS (Q1): $1.10 vs. $1.20 last year. -EPS Decline (Y-o-Y): -8.3% -Analysts Estimate: $1.08 -Revenue (Q1): $530.5 Mln vs. $565.0 Mln last year. -Revenue Change (Y-o-Y): -6.1%