Teledyne Technologies Inc. (TDY) reported that its fourth-quarter net income attributable to the company was $32.2 million or $0.88 per share, compared to net income of $19.9 million or $0.54 per share in the fourth quarter of 2008.
The company said that the fourth quarters of 2009 and 2008 included research and development tax credits of $6.1 million and $1.2 million, respectively. The fourth quarter of 2009, also included certain pretax charges totaling $2.5 million for the net impact of product recall and replacement costs, acquisition related expenses and inventory write-downs. The fourth quarter of 2008, included a pretax charge of $18.0 million for the impact of product recall and replacement costs.
Net sales were $454.4 million, compared to $464.8 million for the same period of 2008.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share on revenues of $449.21 million for the quarter. Analysts' estimates typically exclude special items.
For the first quarter, the company expects earnings per share will be in the range of approximately $0.57 to $0.61. Analysts expect the company to report earnings of $0.71 per share for the first-quarter.
The full year 2010 earnings per share outlook is expected to be in the range of approximately $2.80 to $2.90. Analysts expect the company to report earnings of $3.13 per share for fiscal 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.