Record-Breaking First Quarter Sales
First quarter total sales increased by 7.4%, marking an acceleration for two consecutive quarters and the greatest growth rate in years. Sales increased organically in every segment.
Successful Acquisition of Qioptiq
Teledyne successfully closed the Qioptiq acquisition, which brought major new contracts with both the U.K. and German Ministry of Defense, resulting in a multiyear acquired backlog.
Strong Performance in Aerospace and Defense Electronics
First quarter organic sales in the Aerospace and Defense Electronics segment increased by 7.8%, driven by growth in defense electronics products. Including acquisitions, sales increased 30.6%.
Improved Non-GAAP Operating Margin
The Digital Imaging segment saw a 31 basis point improvement in non-GAAP operating margin, primarily due to contributions from FLIR and the space-based sensor business.
Positive Book-to-Bill Ratio
The company reported a book-to-bill ratio of 1.05 overall, with Digital Imaging at 1.11 and Instrumentation at 1.04, indicating strong order intake.