Teledyne Technologies Inc Q4 Profit Decreases, But Beats Estimates

(RTTNews) - Teledyne Technologies Inc (TDY) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $198.5 million, or $4.20 per share. This compares with $323.1 million, or $6.75 per share, last year.

Excluding items, Teledyne Technologies Inc reported adjusted earnings of $260.9 million or $5.52 per share for the period.

Analysts on average had expected the company to earn $5.23 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 5.4% to $1.502 billion from $1.425 billion last year.

Teledyne Technologies Inc earnings at a glance (GAAP) :

-Earnings: $198.5 Mln. vs. $323.1 Mln. last year. -EPS: $4.20 vs. $6.75 last year. -Revenue: $1.502 Bln vs. $1.425 Bln last year.

-Guidance: Next quarter EPS guidance: $4.80 to $4.90