July 11, 2001 |
Teledyne Technologies Inc. said it expects to post a larger second-quarter charge, as it plans to cut 14% of its work force by the end of the year and exit some businesses. Teledyne, which makes electronics, communications products and aerospace components, said it sees a second-quarter pretax charge of about $25 million to $27 million, or 46 to 50 cents per diluted share. The company previously said second-quarter earnings would include a pretax charge of about $5 million to $10 million.
April 26, 2001 |
Teledyne Technologies Inc., which makes electronic relays used to test computer chips, dismissed 300 employees, or 5% of its work force, to cut costs Wednesday. It plans to eliminate more jobs and said second-quarter and full-year profit will be less than analysts' estimates. The move is expected to save about $13 million a year, the Los Angeles-based company said in a prepared statement.
February 24, 2001 |
Teledyne Technologies Inc. said first-quarter and 2001 earnings will be less than forecast because of declining sales of electronics and aircraft-engine parts, sending its shares down 27%. The Los Angeles-based company said it will increase temporary layoffs by an unspecified amount and cut spending to lower expenses. Profit probably will be 15 cents a share in the quarter and 95 cents in 2001, Teledyne said. Analysts on average were expecting 25 cents for the quarter and $1.
June 6, 2000 |
Engineering products maker Teledyne Technologies Inc. said its chief financial officer, Stefan Riesenfeld, has resigned to pursue a new position elsewhere. Effective immediately, Teledyne's corporate controller, Dale Schnittjer, will serve as acting chief financial officer while the company searches for Riesenfeld's replacement. Teledyne, based in Los Angeles, was spun off in December by Pittsburgh specialty metals producer Allegheny Technologies Inc., formerly known as Allegheny Teledyne.
March 29, 2000 |
Aerospace and electronics firm Teledyne Technologies Inc. (TDY) is learning about a new kind of momentum. Shares of the Los Angeles company have almost doubled in the last three sessions on the New York Stock Exchange, jumping $7.63 to $26 on Tuesday alone. The only major news was a report Friday from Banc of America Securities analyst James Samuels, who raised his price target to $25 from $15, a company spokesman said.
December 1, 1999 |
Shares of Water Pik Technologies Inc. in Newport Beach and Teledyne Technologies Inc. in Los Angeles got off to a lackluster start Tuesday as they began regular trading on the New York Stock Exchange. A day earlier, the companies were spun off by Pittsburgh specialty metals producer Allegheny Technologies Inc., formerly known as Allegheny Teledyne Inc. Shares of Water Pik, a producer of shower massagers, automatic toothbrushes and pool heating systems, closed at $7.