Teledyne Technologies Q3 Profit Rises, Lifts 2014 Outlook - Quick Facts

(RTTNews) - Teledyne Technologies, Inc. (TDY), a provider of electronic subsystems and instrumentation, reported Thursday that third-quarter net income attributable to Teledyne was $55.6 million or $1.47 per share, higher than $46.8 million or $1.23 per share last year.

On average, four analysts polled by Thomson Reuters expected earnings of $1.28 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 5.2 percent to a record $601.1 million from $571.6 million a year earlier. Analysts were looking for revenues of $608.83 million.

Looking ahead to the fourth quarter, the company expects earnings in a range of about $1.35 to $1.39 per share. Analysts expect earnings of $1.38 per share.

For fiscal 014, the company raised its earnings guidance to a range of $5.49 to $5.53 per share from the prior forecast range of $5.31 to $5.35 per share. Analysts expect earnings of $5.33 per share for the year.

The company also announced an agreement to acquire Bolt Technology Corp.