Teledyne: Machine vision segment shows strong growth in the first quarter of 2020
The acquisition of the MEMS manufacturer Micralyne in late summer last year and increased sales of infrared cameras, MEMS and X-ray detectors gave the Digital Imaging division of the Californian electronics group Teledyne a good start to the new fiscal year. The division achieved a 6.2 percent increase in sales in the first quarter of 2020 to 246.7 million US-Dollars (227.8 million Euros). In absolute figures, sales increased by 14.3 million US-Dollars, of which approximately US-Dollars 8 million came from Micralyne. Digital Imaging's operating profit also increased strongly by 19.7 percent to 43.8 million US-Dollars (40.44 Euros).
The group as a whole increased its sales and earnings, too: revenues rose by 5.3 percent to 784.6 million US-Dollars (724.4 Euros) compared to the same quarter last year. Operating profit rose by 6.8 percent to 104 million US-Dollars (96.02 million Euros).The first quarter of the electronics group was thus without the impact of the Corona pandemic. According to Robert Mehrabian, executive chairman of Teledyne's board of directors, the impact could remain limited because about half of the business is more cyclical and therefore more predictable. In addition, a record order backlog at the end of the quarter is helping to maintain revenue growth.
The full year 2019 was also very successful for the Digital Imaging division: The Digital Imaging division, which includes amongst others the companies Teledyne Dalsa, e2v und ICM, increased its sales by 13.4 percent to 992.9 million US dollars. At 13.5 percent, operating profit grew even more strongly, reaching 176.5 million US-Dollars.
