Teledyne Technologies, Inc. (TDY), a provider of electronic subsystems and instrumentation, reported that third-quarter net income attributable to Teledyne decreased to $48.3 million or $1.34 per share from $56.1 million or $1.47 per share last year.
On average, seven analysts polled by Thomson Reuters expected earnings of $1.33 per share for the quarter. Analysts' estimates typically exclude special items.
Total net sales for the quarter declined 3.2 percent to $577.7 million from $597.1 million a year earlier. Analysts were looking for revenues of $597.85 million.
Looking ahead to the third quarter, the company expects earnings in a range of about $1.45 to $1.48 per share. Analysts expect earnings of $1.48 per share.
For fiscal 2015, the company continues to project earnings in the range of $5.60 to $5.65 per share. Analysts expect earnings of $5.62 per share for the year.
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