Offerings of Teledyne Technologies are critical to products that work on land, in the air, and under the sea. The company makes a slew of electronic components and subsystems, instruments, and communications equipment for both domestic and foreign commercial customers and US government customers. Its lineup ranges from digital imaging and software to data acquisition and communication tools for aircraft, monitoring and control devices for environmental, marine, and industrial projects, defense electronics, and energy generation, storage, and propulsion equipment. Teledyne was founded in 1960.
Teledyne divides its operations across four segments: Instrumentation (more than 40% of total sales), Aerospace and Defense Electronics (almost 30%), Digital Imaging (nearly 20%), and Engineered Systems (more than 10%).
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.
Aerospace and Defense Electronics makes electronic components and subsystems and communications products for wireless and satellite communications and general aviation batteries.
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.
Engineered Systems offers systems engineering and integration and advanced technology development as well as complex manufacturing equipment for defense, space, environmental, and energy applications.
Teledyne operates through more than 65 principal facilities across 18 states and international locations in Canada, the UK, The Netherlands, and Denmark. It generates about 75% of its net sales in the US.
Sales and Marketing
More than 25% of Teledyne's total sales are derived from contracts with agencies of, and prime contractors to, the US government. The company’s principal US government customer is the US Department of Defense, accounting for more than 20% of total sales. Other customers include airlines, industrial manufacturers, and oil and gas exploration and production companies. The company sells its products through an internal sales force, distributors, and commissioned sales representatives.
Teledyne's revenues have declined the last two years, dipping 6% from 2015 to 2016. This was due to lower sales in its Instrumentation and Engineered Systems segments, partially offset by higher sales within the Aerospace and Defense and Electronics and Digital Imaging segments.
Instrumentation sales dropped 17% in 2016 due to lower sales of marine instrumentation products, including interconnect systems and other marine sensors for energy exploration and production, as a result of weak energy markets. Engineered Systems sales decreased 6% in 2016 mainly due to lower sales of commercial hydrogen generators, as well as government energy systems.
Teledyne's profits also decreased 3% from 2015 to 2016, mainly due to the lower sales coupled with increased severance and facility consolidation costs. In addition, Teledyne's operating cash flow has fluctuated over the years; after declining in 2015, cash flow jumped 34% in 2016 due to lower income tax payments, lower annual bonus and regular payroll payments, and higher customer advanced payments.
Mergers and Acquisitions
One way Teledyne grows is through the use of acquisitions. In its largest acquisition to date, Teledyne in 2017 acquired e2v technologies, a provider of high performance image sensors and custom camera technology for the machine vision market, for almost $790 million. The transaction added highly complementary products and technical resources to Teledyne in key locations, including the UK; Grenoble, France; and Seville, Spain.
Adding to its software capabilities, in 2016 Teledyne picked up New Brunswick-based CARIS, a developer of geospatial software designed for the hydrographic and marine community, for some $26 million in cash. The acquisition improved Teledyne's software and real-time processing tools across sonar and bathymetric and light detection and ranging (LIDAR) businesses.
In early 2015, the company acquired Bowtech Products Limited, a designer and manufacturer of harsh underwater environment vision systems. The deal filled a product gap in marine technologies, adding optical underwater cameras to Teledyne's wide range of acoustic imaging and sonar products.
1049 CAMINO DOS RIOS
Thousand Oaks, CA 91360-2362
Phone: 1 (805) 373-4545
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): 10,850
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