Teledyne Technologies reports ‘record’ Q1 2023 results

03 May 2023

Diversified tech firm’s Q1 sales reach $1.38bn up 4.7% on Q1 2022; plus new camera launches across divisions.

Diversified engineering and photonics company Teledyne Technologies has reported first quarter (Q1) 2023 net sales of $1.38 billion, compared with net sales of $1.32 billion for Q1, 2022, an increase of 4.7%. Net income attributable to Teledyne was $179 million for Q1, 2023, compared with $212.6 million (Q1, 2022), a fall of 15.9%.

Teledyne operates across four major segments: Digital Imaging, Instrumentation, Engineered Systems, and Aerospace and Defense Electronics.

Teledyne’s non-GAAP Q1, 2023 net income was $217.2 million ($203.9 million in Q1, 2022). Operating margin was 17.5% for Q1, 2023 (16.9% for Q1, 2022). Excluding acquisition-related transaction and purchase accounting expenses, non-GAAP operating margin for Q1, 2023 was 21.1% (21.0% for Q1, 2022).

Robert Mehrabian, Chairman, President and CEO, commented, “Our healthcare-focused imaging businesses achieved all-time record sales and even stronger orders, while our longer-cycle marine, aerospace and government businesses, collectively, also performed well.”

Mehrabian added, “Our shorter-cycle commercial imaging and instruments businesses remained resilient with sales in the majority of product families increasing compared with last year. Supply chain challenges improved and premiums paid for scarce electronic components declined. Finally, given record first quarter cash flow, our consolidated leverage ratio declined to 2.3x even after completing the ChartWorld acquisition [in January, 2023].”

Thermal by Flir expands with drone makers BRINC and Teal

Teledyne division Flir has announced “continued momentum within its Thermal by Flir program for small unmanned aircraft systems, highlighted by the integration of its Hadron 640R dual visible-thermal payload within the recently-announced Teal 2 drone and the Lepton 3.5 thermal micro camera within the BRINC LEMUR 2.

Mike Walters, VP, product management, at Flir commented, “The integration of the Flir thermal camera modules into the cutting-edge LEMUR 2 and the Teal 2 demonstrates our continued commitment to innovation and streamlined platform integration.”

The Hadron 640R pairs a performance-leading 640x512 resolution radiometric Boson thermal camera with a 64MP visible camera in a single module. With a size, weight, and power (SWaP) optimized design, it is a suitable dual-sensor payload for integration into sUAS, unmanned ground vehicles, robotic platforms, and AI-ready applications.

“Flir maintains an impressive track record of innovation by developing industry-leading thermal imaging sensors and supporting integrators through the development and launch cycle,” said George Matus, founder and CEO of Teal. “The Hadron 640R provides the military-grade Teal 2 with the situational awareness front-line personnel require to dominate the night in support of defense and public safety operations in a variety of environments.”

One of seven advanced sensors integrated into the LEMUR 2, the Lepton micro thermal camera is small enough to rest on the tip of a finger, providing 160x120 thermal resolution for capturing accurate, calibrated, and noncontact temperature data within a lightweight and low-power package. It helps provide law enforcement and emergency services with greater situational awareness in total darkness or smoke without placing personnel in danger.

Shutterless version of compact thermal camera

Teledyne Dalsa has launched a shutterless version of its MicroCalibir Long Wave Infrared (LWIR) compact camera platform. Developed and manufactured in Canada, the MicroCalibir platform is the result of the latest advances made by the integration of their in-house 12 μm microbolometer pixel technology with a deep-ADC ROIC circuit. This novel ROIC design results in a 1000°C intra-scene temperature range at a sub-40mK NETD.

The developer says that this platform design “makes it easier to withstand high levels of vibration or g-shock which are crucial factors in applications such as smaller hand-held thermal imagers, thermal weapon sights, surveillance, and small drone applications.”

MicroCalibir is supplied without a housing and with an M18 interface (for QVGA video format) or M24 in VGA format. The new model is also smaller and lighter than the standard MicroCalibir, measuring only 21 mm x 21 mm x 12.9 mm with lens mount and electronics boards, and weighing only 10 grams.

Later in 2023, says Teledyne Dalsa, the MicroCalibir family will be further expanded with the introduction of a radiometric version for applications that require temperature information.