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Wayne Rooney  |  by www.tradingmarkets.com. All rights reserved. 6.11 | 20:41

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(RTTNews) - Thursday, Teledyne Technologies Incorporated ( | | | ), a provider of electronic components and instruments and communications products, announced financial results for its third quarter, reporting earnings that increased from prior year and beat analysts' estimate on higher sales. The company also provided earnings guidance for its fourth quarter and fiscal 2006. The Angeles, California-based company posted third quarter net income of $22.

6 million or $0.63 per share, compared with $15.7 million or $0.

45 per share in the third quarter of 2005. On average, 5 analysts polled by First Call/Thomson Financial expected the company to earn $0.57 per share for the third quarter.

Quarterly sales of $363.6 million, compared with sales of $295.3 million for the same period of 2005.

Wall Street analysts had a consensus revenue estimate of $340.33 million for the third quarter. The Electronics and Communications segment's third quarter 2006 sales were $228.

0 million, up from sales of $178.9 million, an increase of 27.4%.

The Systems Engineering Solutions segment's third quarter 2006 sales were $72.3 million, compared with third quarter 2005 sales of $64.3 million, an increase of 12.

4%. The Aerospace Engines and Components segment's third quarter 2006 sales were $55.9 million, an increase of 22.

3%, compared with third quarter 2005 sales of $45.7 million. The Energy Systems segment's third quarter 2006 sales were $7.

4 million, up 15.6% from $6.4 million.

For the nine-month period, the company reported net income of $61.4 million or $1.73 per share, up from $47.

6 million or $1.38 per share in the nine-month period of last year. Net sales for the nine-month period were $1.

04 billion compared to $896.1 million in the comparable period last year. Looking ahead to the fourth quarter, the company expects earnings to be in the range of $0.

47 - $0.49 per share. Analysts are of the view that the company would earn about $0.

49 per share for the fourth quarter. For fiscal 2006, the company increased earnings outlook to $2.20 - $2.

22 per share, an increase from prior guidance of $2.11 to $2.15 per share.

Analysts are looking earnings to be in the range of $2.16 per share for fiscal 2006. TDY is currently trading at $42.

71, up $0.01 or 0.02%.

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