Teledyne Technologies Reports First Quarter Results

LOS ANGELES - April 28, 2004 - Teledyne Technologies Incorporated (NYSE:TDY)

• Revenues of $219.6 million increased 11.4% compared to last year
• Earnings per share of $0.18 increased 5.9% compared to last year
• Excluding pension income and expense, earnings per share increased 10.0%
• Raising 2004 earnings per share outlook

Teledyne Technologies today reported first quarter 2004 sales of $219.6 million, compared with sales of $197.2 million for the same period in 2003. Net income for the first quarter of 2004 was $5.9 million ($0.18 per diluted share), compared with net income of $5.5 million ($0.17 per diluted share) in the first quarter of 2003. Net income for the first quarter of 2004 included pretax pension expense of $2.2 million, compared with pretax pension expense of $1.7 million for the same period of 2003.

• Click to view the First Quarter Earnings Report

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640