Restructuring Teledyne reports quarterly loss of $79.8 million.
Teledyne Teledyne Technologies Inc. NYSE: TDY is an industrial conglomerate primarily based in the United States but with global operations. It was founded in 1960 by Henry Singleton and George Kozmetsky. Inc., the Los Angeles-based diversified diversified (di·verˑ·s aerospace,
electronics and manufacturing company, reported a third quarter loss of
$79.8 million, or $1.44 a share, on revenues of $757.7 million, compared
to a net profit of $9.1 million, or 17 cents a share, and sales of
$846.4 million in the same period in 1990.
Teledyne said during the quarter that ended on Sept. 30, it took a
charge of almost $66 million for the cost of the planned company
restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). .
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