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Teledyne Technologies Incorporated is a leading provider of sophisticated electronic components, instruments and communications products, including defense electronics, data acquisition and communications equipment for airlines and business aircraft, monitoring and control instruments for industrial and environmental applications and components, and subsystems for wireless and satellite communications. We also provide systems engineering solutions and information technology services for defense, space and environmental applications, and manufacture general aviation and missile engines and components, as well as on-site gas and power generation systems.
We serve niche market segments where performance, precision and reliability are critical. Our customers include major industrial and communications companies, government agencies, aerospace prime contractors and general aviation companies.
Total sales in 2005 were $1,206.5 million, compared with $1,016.6 million and $840.7 million in 2004 and 2003, respectively. Our aggregate segment operating profits were $126.6 million, $89.2 million and $61.9 million in 2005, 2004 and 2003, respectively. Approximately 42% of our total sales in 2005 were to commercial customers and the balance was to the U.S. Government, as a prime contractor or subcontractor. Approximately 46% of these U.S. Government sales were attributable to fixed price-type contracts and the balance to cost plus fee-type contracts. International sales accounted for approximately 18% of total sales in 2005.
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