Strong US defence activity helped lift net sales at Teledyne Technologies to a record high of USD834.2 million in the fourth quarter of 2019, an 11.5% increase from a year earlier, according to the American industrial conglomerate.
Net income jumped 27% in the fourth quarter to USD115.7 million, the Thousand Oaks, California-based company said on 22 January.
For all of last year, Teledyne’s net sales rose 9% to USD3.2 billion, while its net income surged 20.5% to USD402.3 million.
Teledyne makes autonomous underwater vehicles (AUVs), electronics, sensors, software, and other products for defence and other sectors. Roughly a quarter of its sales are to US and foreign militaries.
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