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Teledyne Technologies Incorporated (symbol: TDY) is a leading provider of sophisticated electronic components, instruments, and communications products. The company excels in various domains including defense electronics, data acquisition, communications equipment for airlines and business aircraft, monitoring and control instruments for industrial and environmental applications, as well as components and subsystems for wireless and satellite communications.
The Teledyne Solution: Teledyne has solutions to meet diverse challenges. Their segments bring decades of expertise, working together to develop leading-edge technologies. They serve niche markets where performance, precision, and reliability are vital, with customers including major industrial and communications companies, government agencies, aerospace prime contractors, and general aviation companies.
Business Segments:
- Instrumentation: Provides monitoring instruments primarily for marine and environmental applications.
- Digital Imaging: The largest revenue contributor, includes image sensors and cameras for industrial, government, and medical customers.
- Aerospace and Defense Electronics: Supplies electronic components and communication products for aircraft.
- Engineered Systems: Offers solutions for defense, space, environmental, and energy applications.
Teledyne Technologies generates approximately a fourth of its revenue from contracts with the United States government. Recent achievements include expanding their product offerings and securing significant contracts in various sectors. The company's strategic partnerships and continuous innovation have solidified its position as a prominent player in the technology and defense industries.
Teledyne FLIR has launched the identiFINDER® R700 Backpack Radiation Detector, an advanced mobile system for radiological monitoring. The U.S. Department of Homeland Security has placed a $6.5 million order for the device under its Helium-3 Alternative Implementation Backpack Program, with deliveries scheduled over nine months. The R700 enhances sensitivity and speed in detecting radioactive threats, proving versatile for various operational needs. Shipments began in May, with wider availability expected in Q3-2021.
Teledyne Marine Vehicles announced that Argeo of Norway has procured two of its Gavia SeaRaptor Autonomous Underwater Vehicles (AUVs), rated for 6,000 meters. This strategic partnership aims to enhance Argeo’s fleet for deep-sea surveys in various marine industries, including offshore wind and oil & gas. The SeaRaptor AUVs are equipped with advanced sonar and data collection systems, ensuring efficient and precise underwater assessments. Teledyne's commitment to innovation is showcased in the autonomous capabilities and long endurance of these vehicles, crucial for expanding oceanic research.
Teledyne Imaging has introduced the Linea Lite series of line scan cameras, designed to enhance machine vision applications. These new cameras have a 45% smaller footprint than the original Linea and feature a proprietary CMOS image sensor. They are available in 2k and 4k resolutions with monochrome and bilinear color options. Key features include multiple regions of interest, programmable coefficient sets, and support for precision time protocol. The Linea Lite is suited for various inspections, from battery to packaging, promising a low-cost solution in a compact design.
Teledyne Technologies (NYSE: TDY) announced that Jason VanWees, Executive VP, will attend the 16th Annual Needham Virtual Technology & Media Conference on May 19. The latest investor presentation will be available on the company’s website. Teledyne is a leader in digital imaging products, software, and defense electronics, with operations in the U.S., Canada, the U.K., and Europe. The presentation contains forward-looking statements that entail risks, including COVID-19 impacts, integration challenges with FLIR, and market uncertainties.
Teledyne CML Composites has made a significant investment in a new Thermoplastic processing cell in collaboration with the National Composites Centre (NCC) in the UK. This new facility features advanced press and oven systems capable of processing reinforced Thermoplastics like PEEK and PEKK, enhancing capacity for commercial and defense aerospace manufacturing. The investment aligns with Teledyne CML's long-term growth strategy in aerospace, improving production efficiency with reduced cycle times and sustainability. The new capabilities support both thermoplastic and thermoset production.
Teledyne Storm Microwave has launched the Storm-Test™ series of cables designed for Vector Network Analyzers (VNA), enhancing phase stability and extending the lifespan of test leads. The new cables feature advanced bend protection and a braided FEP jacket for durability, making them suitable for demanding applications in military and aerospace sectors. Testing indicates these cables last longer than competitors, saving time and costs for customers. They offer customization options and are available for immediate order.
Teledyne Technologies (NYSE:TDY) reported first quarter 2021 sales of $805.7 million, up 2.7% from the previous year. GAAP diluted EPS rose to $2.23, a 3.0% increase. Adjusted diluted EPS surged 39.2% to $3.02, excluding $39.0 million in charges related to the acquisition of FLIR Systems. The operating margin improved to 16.8%. Cash flow from operations climbed to $124.9 million. Teledyne raised its full-year earnings forecast to $12.00 - $12.20 per share. Completion of the FLIR acquisition is anticipated for May 14, 2021.
Teledyne Technologies Incorporated (NYSE:TDY) announced its 2021 Annual Meeting of Stockholders will be held virtually on April 28, 2021, at 9:00 a.m. Pacific due to COVID-19 concerns. Stockholders of record as of March 3, 2021, can access the meeting online starting at 8:45 a.m. Pacific. Beneficial owners must register in advance to participate. Shareholders are encouraged to vote their shares electronically during the meeting. Teledyne is a leader in digital imaging and engineered systems, with operations mainly in the U.S., Canada, and Europe.
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