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About Teledyne Technologies Inc

Offerings of Teledyne Technologies are enabling technologies for industrial growth markets that require advanced technology and high reliability. The company's products include digital imaging sensors, cameras and systems within the visible, infrared and X-ray spectra, monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, electronic test and measurement equipment, aircraft information management systems, and defense electronics and satellite communication subsystems. It also supply engineered systems for defense, space, environmental and energy applications. Teledyne gets most of its sales from customers in the US.

Operations

Teledyne's four operational segments provide balanced streams of revenue with the biggest, Instrumentation, accounting for some 35% of revenue and smallest, Engineered Systems, more than 10%. In the middle are and Digital Imaging, around 30% and Aerospace and Defense Electronics, over 20% of revenue.

Instrumentation provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment. Its main product lines are Environmental Instrumentation, Marine Instrumentation, and Test and Measurement Instrumentation.

Digital Imaging provides high-performance sensors, cameras and systems, within the visible, infrared, ultraviolet, and X-ray spectra for use in industrial, government, and medical applications, as well as micro electro-mechanical systems (MEMS) and high-performance, high-reliability semiconductors including analog-to-digital and digital-to-analog converters.

The Aerospace and Defense Electronics segment makes electronic components and subsystems and communications products including defense electronics, harsh environment interconnects, data acquisition and communications equipment for aircraft, and components and subsystems for wireless and satellite communications and general aviation batteries.

Engineered Systems offers systems engineering and integration and advanced technology development as well as complex manufacturing equipment for defense, space, environmental, and energy applications.

Geographic Reach

California-based Teledyne operates through some 70 principal facilities across over 15 states and international locations in Belgium, Canada, France, the UK, The Netherlands, and Denmark.

Teledyne relies on the US for some 70% of its revenue, while Canada supplies about 10% and the UK, nearly 10%.

Sales and Marketing

A significant portion of Teledyne's sales are to the US government, directly or through prime contractors. The biggest customer is the US Department of Defense, which accounts for about 25% of the company's revenue.

Other customers include aerospace and defense, factory automation, medical imaging equipment makers, pharmaceutical firms, electronics design and development, oceanographic research and deepwater oil and gas exploration and production companies. The company sells its products through an internal sales force, third-party distributors, and third-party commissioned sales representatives. Products are also advertised in trade journals and by means of various websites.

Financial Performance

After Teledyne's revenues declined in 2016, its revenues bounced back with three years of growth, including company record sales in 2019.

Teledyne reported net sales of $3.2 billion in 2019, compared with net sales of $2.9 billion for 2018, an increase of 9%. The increase in net sales in reflected higher net sales in each segment.

Net income was $402.3 million in 2019, compared with net income of $333.8 million in 2018, an increase of 21%.

Teledyne's coffers held $200 million in cash in 2019 compared to $142.5 million in 2018. The company's operations generated $482.1 million in 2019, while investing and financing activities used $571.9 million and $141.7 million, respectively.

Strategy

Teledyne's strategy continues to emphasize growth in its core markets of instrumentation, digital imaging, aerospace and defense electronics and engineered systems. The company's core markets are characterized by high barriers to entry and include specialized products and services not likely to be commoditized. Teledyne intends to strengthen and expand its core businesses with targeted acquisitions and through product development. It continues to focus on balanced and disciplined capital deployment among capital expenditures, product development, acquisitions and share repurchases. Teledyne also aggressively pursues operational excellence to continually improve its margins and earnings by emphasizing cost containment and cost reductions in all aspects of its business. At Teledyne, operational excellence includes the rapid integration of the businesses it acquires. Using complementary technology across its businesses and internal research and development, the company seeks to create new products to grow the company and expand its addressable markets. Teledyne continues to evaluate its businesses to ensure that these are aligned with the company's strategy.

Mergers and Acquisitions

In 2020, Teledyne Technologies Incorporated (NYSE:TDY) and its subsidiary, Teledyne LeCroy, Inc., has acquired OakGate Technology, Inc. Based in Loomis, California, OakGate provides software and hardware designed to test electronic data storage devices from development through manufacturing and end-use applications. Terms of the transaction were not disclosed.

In 2019, Teledyne Digital Imaging, Inc., a subsidiary of Teledyne Technologies Incorporated, has acquired Micralyne Inc. Based in Edmonton, Alberta, Canada, Micralyne is a privately-owned foundry providing Micro Electro Mechanical Systems or MEMS devices. In particular, Micralyne possesses unique microfluidic technology for biotech applications, as well as capabilities in non-silicon-based MEMS (e.g. gold, polymers) often required for human body compatibility. Terms not disclosed.

In 2019 Teledyne acquired the flame- and gas-detection business of 3M for $230 million. The deal includes the Oldham, Simtronics, Gas Measurement Instruments, and Detcon product lines. The acquisition could help Teledyne enhance other products such as its sophisticated instrumentation, aerospace and defense electronics, and engineered systems.

In 2019 Teledyne acquired the scientific imaging businesses of Roper Technologies Inc. for $225 million. Teledyne expanded its imaging portfolio with the addition of the Princeton Instruments, Photometrics, and Lumenera brands, as well as others.

Teledyne Technologies Inc

1049 Camino Dos Rios
Thousand Oaks, CA 91360-2362
Phone: 1 (805) 373-4545

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: TDY
Stock Exchange: , NYSE
SVP and CFO: Susan L. Main
Chairman, President, and CEO: Robert Mehrabian
COO: Aldo Pichelli
Employees (This Location): 250
Employees (All Locations): 11,790

Major Office Locations

Thousand Oaks, CA

Other Locations

Camarillo, CA
Chatsworth, CA
City Of Industry, CA
El Segundo, CA
Hawthorne, CA
Los Angeles, CA
Milpitas, CA
Mission Viejo, CA
Moorpark, CA
Mountain View, CA
Poway, CA
Rancho Cordova, CA
Redlands, CA
San Diego, CA
Sunnyvale, CA
Colorado Springs, CO
Englewood, CO
Daytona Beach, FL
Chicago, IL
Elgin, IL
Woodridge, IL
Marion, MA
North Falmouth, MA
Bethesda, MD
Sparks Glencoe, MD
Bozeman, MT
Durham, NC
Lincoln, NE
Omaha, NE
Hampton, NH
Hudson, NH
Portsmouth, NH
Mason, OH
Toledo, OH
Montgomeryville, PA
State College, PA
Knoxville, TN
Lewisburg, TN
Cypress, TX
Dallas, TX
Fredericksburg, TX
Houston, TX
La Porte, TX
Charlottesville, VA
Hampton, VA
Beijing, China
Suita, Japan
Rio De Janeiro, Brazil
Saint-Laurent, Canada
Waterloo, Canada
Blagnac, France
Niederlenz, Switzerland