Teledyne Technologies Incorporated - TDY STOCK NEWS

Teledyne FLIR Defense has secured a framework agreement worth up to NOK 475 million (approximately $48 million) with the Norwegian Defence Materiel Agency for multi-year deliveries of Black Hornet® nano UAVs. This four-year agreement can be extended for up to three additional years, marking Norway's largest commitment to date for this technology since it first received units in 2015. The Black Hornet, weighing 33 grams, offers covert situational awareness with a flight time of up to 25 minutes and has been widely deployed across defense forces globally.

Teledyne FLIR Defense announced the delivery of 127 PackBot 525 unmanned ground vehicles (UGVs) to the German Army. The deliveries, expected to finalize in July, strengthen the German military's capabilities amidst European security concerns. The PackBot 525, weighing 27 kg, is designed for diverse missions including bomb disposal and surveillance. With a history of aiding U.S. and international forces since 2001, these robots have collectively neutralized over 70,000 IEDs, enhancing operational safety and effectiveness.

Teledyne FLIR Defense has launched the Kobra™ 725 modular robot at Eurosatory, enhancing its previous model, Kobra 710. Designed for harsh environments, the Kobra 725 features improved mobility, capable of speeds up to 13 km/h, and a lift capacity to handle heavy loads. Weighing less than 250 kg, it offers advanced technology including full-HD cameras and AES-256 encryption. The robot is tailored for military tasks such as Explosive Ordnance Disposal and reconnaissance. The U.S. Army previously selected the Kobra 710 as its Common Robotic System-Heavy platform.

Teledyne FLIR Defense, part of Teledyne Technologies (NYSE:TDY), has secured a $14 million contract to supply its Black Hornet® 3 Personal Reconnaissance Systems to the U.S. Army, enhancing surveillance capabilities under the Soldier Borne Sensor program. This order marks a total of nearly $115 million since the Army began procuring these nano unmanned aerial vehicles in late 2018. The lightweight, nearly silent drones provide live video transmission and HD images, improving situational awareness for soldiers in the field.

Teledyne FLIR Defense has unveiled the StormCaster-DX, a pioneering small Unmanned Aerial System (sUAS) payload enhancing NATO standard laser target designation capabilities. This rucksack-portable drone allows small military units to perform aerial target designation previously possible only with larger drones or ground systems. The StormCaster-DX supports multiple applications including air strikes and precision-guided munitions, providing significant operational advantages for troops. It features advanced stabilization and AI-based targeting for improved battlefield management.

Teledyne FLIR Defense has secured a five-year contract with the U.S. Army worth up to $500.2 million for advanced thermal imaging systems under the Family of Weapon Sights-Individual (FWS-I) program. This lightweight, battery-operated system enhances soldiers' capabilities to operate effectively in various conditions, including smoke and fog. Production will take place in Billerica, Massachusetts and Goleta, California, with Maztech Industries as a subcontractor. Teledyne FLIR emphasizes its ongoing leadership in thermal imaging technology.

Teledyne Technologies (NYSE:TDY) reported record first quarter sales of $1,321.0 million, a 64.0% increase from last year. GAAP diluted earnings per share reached $4.46, with a non-GAAP figure of $4.27. The company raised its 2022 GAAP earnings outlook to $15.34 to $15.66 per share. Significant growth was driven by the FLIR acquisition, contributing $452.6 million in incremental sales. However, cash flow was impacted by a $296.4 million tax payment related to FLIR. The net debt increased to $3,847.5 million as of April 3, 2022.

Teledyne Technologies (NYSE:TDY) will hold a conference call on April 27, 2022, at 8:00 a.m. Pacific to discuss its first quarter 2022 financial results. A press release with detailed results will be issued prior to the New York Stock Exchange opening on the same day.

Teledyne is a leading provider of advanced digital imaging products, software, instrumentation, aerospace and defense electronics, and engineered systems, with operations mainly in the U.S., Canada, the U.K., and parts of Europe.