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Global Space Power Supply Market Report 2021-2026: Focus on Generation, Storage, Conditioning, Distribution, and Conversion
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Global Space Power Supply Market Report 2021-2026: Focus on Generation, Storage, Conditioning, Distribution, and Conversion
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Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Teledyne Second quarter Earnings Call 2021. [Operator Instructions] [Operator Instructions]
And I d now like to turn the conference over to your host, Jason VanWees. Please go ahead.
Jason VanWees
Executive Vice President, Teledyne Technologies Incorporated
Thank you, and good morning, everyone. This is Jason VanWees, Executive Vice President. And I d like to welcome everyone to Teledyne s second quarter earnings release conference call. And of course, we released our earnings earlier this morning before the market opened. Joining me today are Teledyne s Executive Chairman, Robert Mehrabian; President and CEO, Al Pichelli; Senior Vice President and CFO, Sue Main; and Senior Vice President, General Counsel, Chief Compliance Officer and Secretary, Melanie Cibik. After remarks by Robert, Al and Sue, we will ask for your questions. Again, before we get started, attorneys have reminded me to tell you that all
Teledyne Technologies Inc. beat Wall Street estimates on earnings and revenue for the second quarter.
The Thousand Oaks aerospace, marine and digital imaging products manufacturer reported on Wednesday adjusted net income of $201 million ($4.61 a share) for the quarter ending July 4, compared with adjusted net income of $101 million ($2.68) for the same period a year earlier. Revenue increased by 51 percent to $1.1 billion.
Analysts on average expected earnings of $2.76 on revenue of $1 billion, according to Thomson Financial Network.
Robert Mehrabian, the executive chairman, called the quarter a record setting one for Teledyne.
“We achieved double-digit organic growth with such sales from digital imaging, environmental and electronic test and measurement instrumentation increasing from 17 percent to nearly 25 percent year-over-year,” Mehrabian said in a statement. “Furthermore, Teledyne Flir performed very well in its first few weeks under Teledyne ownership.”
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