Teledyne Technologies Inc. Reports Operating Results (10-K)

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Mar 03, 2011
Teledyne Technologies Inc. (TDY, Financial) filed Annual Report for the period ended 2011-01-02.

Teledyne Tech Inc. has a market cap of $1.85 billion; its shares were traded at around $50.95 with a P/E ratio of 16.5 and P/S ratio of 1.1. Teledyne Tech Inc. had an annual average earning growth of 22.5% over the past 10 years. GuruFocus rated Teledyne Tech Inc. the business predictability rank of 4.5-star.Hedge Fund Gurus that owns TDY: Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns TDY: John Keeley of Keeley Fund Management, Kenneth Fisher of Fisher Asset Management, LLC, Chuck Royce of Royce& Associates.

Highlight of Business Operations:

The aggregate market value of the registrants Common Stock held by non-affiliates was $1,319.0 million, based on the closing price of a share of Common Stock on July 2, 2010 ($37.49), which is the last business day of the registrants most recently completed fiscal second quarter. Shares of Common Stock known by the registrant to be beneficially owned as of February 25, 2011, by the registrants directors and the registrants executive officers subject to Section 16 of the Securities Exchange Act of 1934 are not included in the computation. The registrant, however, has made no determination that such persons are affiliates within the meaning of Rule 12b-2 under the Securities Exchange Act of 1934.

Total sales from continuing operations in 2010 were $1,644.2 million, compared with $1,652.1 million in 2009 and $1,722.0 million in 2008. Our aggregate segment operating profit and other segment income were $207.3 million in 2010, $198.7 million in 2009 and $228.2 million in 2008. This information reflects the classification of our former Aerospace Engines and Components segment as a discontinued operation given the previously announced and pending sale of our piston engines businesses, as further described below.

Our businesses are divided into four business segments; namely, Instrumentation, Digital Imaging, Aerospace and Defense Electronics and Engineered Systems. For 2010, we realigned and changed our reporting structure of some of our reportable business units. Our former Electronics and Communications segment is now reported as three separate segments, Instrumentation, Digital Imaging and Aerospace and Defense Electronics. The businesses that had comprised the Energy and Power Systems segment are now reported as part of the Aerospace and Defense Electronics and the Engineered Systems segments. Our battery products business, with revenues of $15.5 million in 2010, is now part of the Aerospace and Defense Electronics segment and the on-site gas and power generation systems and the turbine engines businesses, with combined revenues of $53.9 million in 2010, are now part of the Engineered Systems segment. Our previously reported segment data have been restated to reflect this revised reporting structure and the classification of our piston engines businesses as a discontinued operation.

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