Teledyne Technologies Incorporated - TDY STOCK NEWS

Teledyne FLIR Defense, part of Teledyne Technologies (NYSE:TDY), has been awarded a $15 million contract by the U.S. Army Contracting Command-Aberdeen Proving Ground to supply over 150 ThermoSight® HISS-XLR weapon sights to a NATO partner country.

The contract includes parts, training, and in-country support. The ThermoSight HISS-XLR enables snipers to detect and recognize targets at distances greater than 2,000 meters and can be mounted on various weapon platforms. Deliveries started this spring and will continue through 2024.

Teledyne DALSA has announced the availability of its AxCIS™ family of Contact Image Sensors (CIS) in color. These high-speed, high-resolution modules integrate sensors, lenses, and lights to provide a lower-cost inspection system for applications like battery and print inspections. The AxCIS sensors utilize Teledyne’s multiline CMOS image sensors to deliver superior image quality with a 60 kHz x 3-line rate of native RGB colors and 900 dpi resolution. This enables precise defect detection and supports true metrology applications. With a dust-proof IP50 design and a Camera Link HS SFP+ fibreoptic interface, AxCIS modules are scalable, compact, and suitable for harsh industrial environments.

Teledyne FLIR Defense has launched the SUGV 325 portable and modular robot at Eurosatory. This lightweight unmanned ground vehicle weighs about 20 pounds and is designed for easy portability and rugged terrain navigation. Key features include a high-tech manipulator arm with five degrees of freedom, HD visible and infrared sensors, stitched 360-degree cameras, 30x optical zoom, and two-way audio communication. The SUGV 325 is ideal for military applications such as surveillance, reconnaissance, EOD, and CBRN inspection. The robot boasts improved mobility, expandable payload capacity, multi-robot control, and robust battery operation up to eight hours.

Teledyne FLIR Defense, a division of Teledyne Technologies (NYSE:TDY), is playing a key role in Paramount+'s new series, CHOPPER COPS, airing June 18. The series features the Marion County Sheriff's Department's aviation unit, utilizing FLIR's advanced thermal cameras and augmented-reality mapping. These technologies offer high-definition imagery, enhancing the storytelling quality. The series is sponsored by Teledyne FLIR Defense, showcasing FLIR’s cutting-edge imaging systems. This collaboration highlights FLIR’s life-saving technology and provides viewers unprecedented access to deputies' aerial missions.

Teledyne Technologies (NYSE:TDY) has completed the acquisition of Adimec Holding B.V., a company based in Eindhoven, Netherlands, known for its high-performance industrial and scientific cameras. Founded in 1992, Adimec specializes in developing customized imaging solutions for critical applications in life sciences and semiconductor inspection. The terms of the acquisition were not disclosed. Teledyne's CEO, Edwin Roks, expressed enthusiasm about integrating Adimec's expertise and workforce into Teledyne's operations, highlighting Adimec's leadership in niche imaging applications.

Teledyne Brown Engineering, a subsidiary of Teledyne Technologies (NYSE:TDY), has been selected by TerraPower to supply the Natrium Reactor Demonstration Project in Kemmerer, Wyoming. The project features a 345-Megawatt electric sodium-cooled fast reactor and a molten salt-based energy storage system, aiming to provide dispatchable, carbon-free energy integrated with renewable resources. Teledyne Brown will design, fabricate, and test an In-Vessel Transfer Machine (IVTM) for core component manipulation during refueling operations. The design phase will be followed by the production of a model for installation.

Teledyne FLIR Defense has significantly upgraded its partner-supported service center in Turkey, operated by Istanbul-based Periter Arastirma ve Teknoloji A.S. since 2015. The center now boasts enhanced capabilities for maintaining and repairing advanced surveillance and imaging systems, including products like the Star SAFIRE® 380 series and the Recon® series of thermal binoculars. This upgrade ensures that most repair and maintenance work for Turkish customers will be handled domestically, enhancing efficiency and support for both government and semi-government organizations. These enhancements are part of FLIR Defense's global strategy to improve its service network, which includes five prime service centers and over 30 regional centers globally.

Teledyne FLIR Defense, a part of Teledyne Technologies Incorporated (NYSE: TDY), unveiled its new Rogue 1™ loitering munition system at the Special Operations Forces (SOF) Week convention in Tampa. Rogue 1 is an advanced unmanned aerial system that offers precision-strikes against various enemy targets, features a unique fuzing system for safe drone recovery, and provides mission-specific payload options for tactical teams. The system leverages Teledyne FLIR's expertise in sensor technology to deliver day/night reconnaissance and surveillance capabilities, with modular payloads designed for distinct target types. With a 30-minute flight time, burst speeds of over 70 mph, and a range of more than six miles, Rogue 1 is designed for harsh battlefield conditions, offering versatility, survivability, and lethality for modern warfare.

Teledyne Technologies reported first-quarter results with orders of $1,433.2 million, an increase of 7.8% from last year. Sales were $1,350.1 million. The company achieved record first-quarter non-GAAP operating margin of 21.2%. GAAP diluted earnings per share were $3.72, while non-GAAP diluted earnings per share were $4.55. Cash from operations was $291.0 million, with free cash flow reaching an all-time high of $275.1 million. The company revised its full-year 2024 earnings per share outlook. Teledyne completed the acquisition of Valeport and announced the pending acquisition of Adimec Holdings B.V. The company improved its consolidated leverage ratio to 1.7x and made a $450 million debt maturity payment after the quarter ended. Planned capital deployment includes stock repurchases of approximately $250.0 to $300.0 million.