TELEDYNE TECHNOLOGIES INCORPORATED SUMMARY OF SEGMENT NET SALES AND OPERATING INCOME FOR THE FOURTH QUARTER AND TWELVE MONTHS ENDED JANUARY 3, 2021 AND DECEMBER 29, 2019 (Unaudited - in millions) |
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Fourth Quarter |
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Fourth Quarter |
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% Change |
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Twelve Months |
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Twelve Months |
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% Change |
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2020 |
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2019 |
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2020 |
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2019 |
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Net sales: |
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Instrumentation |
|
$ |
282.8 |
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$ |
301.6 |
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(6.2 |
)% |
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$ |
1,094.5 |
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$ |
1,105.1 |
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(1.0 |
)% |
| Digital Imaging |
|
262.0 |
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|
268.1 |
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(2.3 |
)% |
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986.0 |
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|
992.9 |
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(0.7 |
)% |
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| Aerospace and Defense Electronics |
|
145.2 |
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|
170.4 |
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(14.8 |
)% |
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589.4 |
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|
690.1 |
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(14.6 |
)% |
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| Engineered Systems |
|
119.3 |
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|
94.1 |
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26.8 |
% |
|
416.3 |
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375.5 |
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10.9 |
% |
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| Total net sales |
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$ |
809.3 |
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$ |
834.2 |
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(3.0 |
)% |
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$ |
3,086.2 |
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$ |
3,163.6 |
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(2.4 |
)% |
| Operating income: |
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| Instrumentation |
|
$ |
63.2 |
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$ |
59.5 |
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|
6.2 |
% |
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$ |
213.2 |
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$ |
200.4 |
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|
6.4 |
% |
| Digital Imaging |
|
56.7 |
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|
47.1 |
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20.4 |
% |
|
192.8 |
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176.5 |
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9.2 |
% |
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| Aerospace and Defense Electronics |
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23.2 |
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32.8 |
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(29.3 |
)% |
|
80.8 |
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|
143.4 |
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(43.7 |
)% |
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| Engineered Systems |
|
15.4 |
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10.5 |
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46.7 |
% |
|
50.1 |
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36.5 |
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37.3 |
% |
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| Corporate expense |
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(14.7 |
) |
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(16.1 |
) |
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(8.7 |
)% |
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(56.8 |
) |
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(65.1 |
) |
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(12.7 |
)% |
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| Operating income |
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143.8 |
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|
133.8 |
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7.5 |
% |
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480.1 |
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491.7 |
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(2.4 |
)% |
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| Interest and debt expense, net |
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(3.4 |
) |
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(4.7 |
) |
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(27.7 |
)% |
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(15.3 |
) |
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(21.0 |
) |
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(27.1 |
)% |
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| Non-service retirement benefit income |
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3.2 |
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1.9 |
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68.4 |
% |
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12.1 |
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8.0 |
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51.3 |
% |
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| Other expense, net |
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(2.5 |
) |
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(1.5 |
) |
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66.7 |
% |
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(7.2 |
) |
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(5.0 |
) |
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44.0 |
% |
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| Income before income taxes |
|
141.1 |
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|
129.5 |
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|
9.0 |
% |
|
469.7 |
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|
473.7 |
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(0.8 |
)% |
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| Provision for income taxes |
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9.0 |
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|
13.8 |
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(34.8 |
)% |
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67.8 |
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71.4 |
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(5.0 |
)% |
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| Net income |
|
$ |
132.1 |
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$ |
115.7 |
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|
14.2 |
% |
|
$ |
401.9 |
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$ |
402.3 |
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(0.1 |
)% |
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Teledyne Technologies Reports Fourth Quarter Results
(a) Fiscal year 2020 contained 53 weeks and fiscal year 2019 contained 52 weeks. The fourth quarter of 2020 contained 14 weeks and the fourth quarter of 2019 contained 13 weeks.
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