traded as nyse tdy industry conglomerate predecessor teledyne inc. founded 1960 founder henry singleton george kozmetsky headquarters thousand oaks ca usa area served worldwide key people robert mehrabian chairman of the board president & ceo revenue us 1.644 billion 2010 operating income 173.6 million 2010 net income 120.5 million 2010 total assets 1.558 billion 2010 total equity 787.0 million 2010 number of employees 9 600 2014 divisions digital imaging instrumentation engineered systems aerospace & defense electronics . website teledyne.com teledyne technologies inc. is an american industrial conglomerate primarily based in the united states but with global operations . it was founded in 1960 as teledyne inc. by henry singleton and george kozmetsky . from august 1996 to november 1999 teledyne existed as part of the conglomerate allegheny teledyne incorporated a combination of the former teledyne inc. and the former allegheny ludlum corporation . 1 on november 29 1999 three separate entities teledyne technologies allegheny technologies and water pik technologies were spun off as free standing public companies . allegheny technologies retained several companies of the former teledyne inc. that fit with allegheny s core business of steel and exotic metals production . at various times teledyne inc. had more than 150 companies with interests as varied as insurance dental appliances specialty metals and aerospace electronics but many of these had been divested prior to the merger with allegheny . the new teledyne technologies was initially composed of 19 companies that were earlier in teledyne inc. by 2011 teledyne technologies had grown to include nearly 100 companies . contents 1 segments 1.1 digital imaging 1.2 instrumentation 1.3 engineered systems 1.4 aerospace and defense electronics 2 companies 3 history 3.1 early years 3.2 major growth years 3.3 peak and decline 3.4 renewal 4 references 5 external links segments edit teledyne technologies currently operates with four major segments digital imaging instrumentation engineered systems and aerospace and defense electronics . 2 digital imaging edit near infrared detector produced by teledyne scientific & imaging a teledyne technologies company . 3 this segment handles sponsored and central research laboratories for a range of new technologies as well as development and production efforts in digital imaging products for government applications . included are infrared detectors cameras and opto mechanical assemblies . instrumentation edit this segment provides monitoring and control instruments for marine environmental scientific industrial and defense applications as well as harsh environment interconnect products . engineered systems edit this segment provides systems engineering and integration advanced technology application software development and manufacturing solutions to space military environmental energy chemical biological and nuclear systems and missile defense requirements . it also designs and manufactures hydrogen gas generators thermoelectric and fuel based power sources and small turbine engines . aerospace and defense electronics edit this segment provides complex electronic components and subsystems for communication products including defense electronics data acquisition and communications equipment for air transport and business aircraft and components and subsystems for wireless and satellite communications as well as general aviation batteries . companies edit as of february 2016 teledyne technologies listed the following companies 4 teledyne advanced pollution instrumentation teledyne analytical instruments teledyne battery products teledyne benthos teledyne blueview teledyne brown engineering teledyne brown collaborx teledyne cml teledyne caris teledyne controls teledyne cormon teledyne cougar teledyne d.g.o brien teledyne dalsa teledyne defense ltd teledyne electronic manufacturing services teledyne electronic safety products teledyne electronics & communications teledyne energy systems teledyne europe teledyne gavia ehf . teledyne geophysical instruments teledyne hastings instruments teledyne imaging sensors teledyne impulse teledyne instruments teledyne interconnect devices teledyne isco teledyne judson technologies teledyne kw microwave teledyne labtech teledyne lecroy teledyne leeman labs teledyne lighting & display products teledyne marine teledyne mec teledyne microelectronic technologies teledyne microwave teledyne monitor labs teledyne ocean designs inc. teledyne odi inc. teledyne odom hydrographic teledyne paradise datacom teledyne printed circuit technology teledyne reson teledyne rd instruments blueview technologies teledyne relays teledyne reynolds teledyne reynolds a division of teledyne limited teledyne risi teledyne scientific and imaging teledyne scientific company teledyne storm products cable solutions group in dallas teledyne storm products microwave in chicago teledyne taptone teledyne tekmar company teledyne test services teledyne tss teledyne turbine engines teledyne varisystems teledyne webb research some companies previously in teledyne technologies include the following continental motors inc. formerly teledyne continental motors teledyne aerosance teledyne piston engines laars formerly teledyne laars mattituck services formerly teledyne mattituck services ryan aeronautical formerly teledyne ryan aeronautical wisconsin motors formerly teledyne wisconsin motors teledyne total power history edit in june 1960 henry singleton and george kozmetsky both previously executives with litton industries formed a firm named instrument systems located in beverly hills california . arthur rock one of america s first and most successful venture capitalists financed the startup with a 450 000 investment . their basic plan was to build a major firm centering on microelectronics and control system development primarily through acquiring existing companies . early years edit in october 1960 the first acquisition was made by purchasing the majority of stock in amelco a small electronics manufacturing plant . within a short time rights to the name teledyne and its associated logo were bought . in addition to amelco two other electronics manufacturing firms were acquired and by the end of 1960 teledyne had about 400 employees and 80 000 square feet 7 400 m2 of floor space devoted to engineering development and manufacturing . teledyne stock was first offered to the public in may 1961 . during its first full fiscal year of operations ending in october 1961 teledyne had sales of 4 491 000 with a net income of 58 000 . 5 teledyne s growth continued in 1962 with the acquisition of companies primarily through equity agreements . internally teledyne systems was formed as the centerpiece of the firm s aerospace systems business diversifying the business base into government contracts with nasa and the u.s. department of defense dod . by the end of the second fiscal year teledyne sales had increased 230 percent and net income by about 570 percent . 6 over the next three years new companies were acquired in microwave and power electrical products including the first consumer products . teledyne controls was established moving the company into the field of hydraulics . teledyne entered the optics field with the acquisition of kiernan optics producing windows for the apollo spacecraft and infrared optical domes for missiles . in early 1965 teledyne had a major breakthrough in winning a large contract from the u.s. navy for the integrated helicopter avionics system ihas giving teledyne a name in the military market . this caused a major jump in the stock price from 15 to 65 . by the end of the fiscal year teledyne had acquired 34 companies sales were 86.5 million with net income of 3.4 million there were about 5 400 employees assets reached 66.5 million and there were near 8 million outstanding shares of stock . 7 major growth years edit a new era for teledyne started in 1966 . in june kozmetsky left to become dean of the school of business administration at the university of texas . in july vanadium alloy steel company vasco including its subsidiary allvac was merged into teledyne . this expanded the company into the eastern u.s. and started the formation of material technologies as a major business activity of teledyne . with the merger singleton turned his position of president over to george a. roberts a close friend from naval academy days who had headed vasco . singleton now assisted by roberts continued in acquiring new companies . 8 in 1967 one of the largest of these was brown engineering a firm with about 3 500 employees headquartered in huntsville alabama . with nasa and dod contracts for engineering services and research brown engineering added a new line of business for teledyne . ryan aeronautical in san diego was acquired in 1968 . earlier noted for building charles lindberg s spirit of st. louis in the 1920s ryan was now the largest producer of unmanned drones for the military . continental motors was primarily owned by ryan and this acquisition brought teledyne into the piston powered engine business with both commercial and military customers . in the remainder of the 1960s teledyne acquired some 90 more companies . a number of these businesses were in consumer products such as water pik acoustic research with high fidelity speakers and olson electronics that operated retail stores across america . packard bell had both consumer and government sales in computers and television receivers . a number of electronic product lines and smaller acquisitions were consolidated in teledyne electronics and teledyne microelectronic technologies . two acquired firms geophysical exploration and geotronics brought teledyne into off shore drilling and earth science instrumentation fields . twenty one acquired companies were in the metals business including wah chang and cast products and this led to the acquisition of firms producing industrial machines and machine tools . other diverse acquisitions included monarch rubber sewart seacraft isotopes radar relays and getz dental . singleton also added a diverse group of financial institutions giving teledyne contact and intimacy with the capital world . these included thrift and loan banks and insurance firms dealing with property workers compensation casualty and life insurance . most of the insurance investments were later consolidated into the argonaut and unitrin subsidiaries and were ultimately spun off as independent companies . teledyne was divided into groups and by the end of the 1960s there were 16 groups with 94 profit centers in 120 locations . company presidents were given considerable freedom in their operations but corporate maintained close financial control and capital management . teledyne sales in 1969 were 2.7 billion and net income was 372 million . the stock had a 2 for 1 split during 1967 and the same split in 1969 . 9 as teledyne moved into its second decade some 150 firms had been acquired . singleton then essentially stopped direct acquisition of companies and began investments in stock of technical firms . by the end of the second decade teledyne owned 31 percent of curtiss wright 24 percent of litton as well as significant portions of a number of other well known companies . this stock was mainly held by the insurance subsidiaries . in the bear market of the early 1970s teledyne stock fell from about 40 to less than 8 ; singleton saw this as an opportunity to buy back teledyne stock . in buybacks from october 1972 to february 1976 22 million shares were repurchased at 14 to 40 well above the market price . this raised the value of teledyne stock eventually increasing to near 175 at the end of the decade . 10 in this period annual income increased by 89 percent and net income by 315 percent . stockholders who had remained through the buyback achieved a phenomenal gain of about 3 000 percent . 11 peak and decline edit going into its third decade teledyne sales passed the 3 billion mark in 1980 with industrial products leading in both sales and net income . in the race between the u.s. and the soviet union government sales reached almost 800 million . the first significant slump in teledyne business began in 1985 . sales for 1984 had been about 3.49 billion but decreased to around 3.26 billion the next year and remained essentially flat for the remainder of the decade . 12 in april 1986 singleton who was then 69 years old turned the position of ceo over to roberts but remained as board chairman . during 1988 teledyne faced a number of legal problems none of which were the direct result of wrongdoings of singleton or roberts . after agreeing to plead guilty to officials in teledyne electronics having made false statements teledyne was fined 17.5 million . after guiding teledyne for 29 years singleton retired as an employee and officer in april 1989 . 13 nevertheless that was a peak year for