Teledyne Technologies Inc Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Teledyne Technologies Inc (TDY) released a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $180.2 million, or $3.77 per share. This compares with $185.3 million, or $3.87 per share, in last year's second quarter.

Excluding items, Teledyne Technologies Inc reported adjusted earnings of $218.7 million or $4.58 per share for the period.

Analysts on average had expected the company to earn $4.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.5% to $1.37 billion from $1.42 billion last year.

Teledyne Technologies Inc earnings at a glance (GAAP) :

-Earnings (Q2): $180.2 Mln. vs. $185.3 Mln. last year. -EPS (Q2): $3.77 vs. $3.87 last year. -Revenue (Q2): $1.37 Bln vs. $1.42 Bln last year.

-Guidance: Next quarter EPS guidance: $4.90 to $5.00 Full year EPS guidance: $19.25 to $19.45