Teledyne Technologies Inc Q2 Profit Increases, beats estimates

(RTTNews) - Teledyne Technologies Inc (TDY) released a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $171.3M, or $3.59 per share. This compares with $64.7 million, or $1.48 per share, in last year's second quarter.

Excluding items, Teledyne Technologies Inc reported adjusted earnings of $211.3 million or $4.43 per share for the period.

Analysts on average had expected the company to earn $4.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.4% to $1.36 billion from $1.12 billion last year.

Teledyne Technologies Inc earnings at a glance (GAAP) :

-Earnings (Q2): $171.3M. vs. $64.7 Mln. last year. -EPS (Q2): $3.59 vs. $1.48 last year. -Analyst Estimate: $4.38 -Revenue (Q2): $1.36 Bln vs. $1.12 Bln last year.

-Guidance: Next quarter EPS guidance: $4.20 to $4.35 Full year EPS guidance: $17.45 to $17.70