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Teledyne’s fourth-quarter profit beats on robust defense demand

Summary by WTVB
(Reuters) – U.S. defense firm Teledyne reported a fourth-quarter profit on Wednesday that beat analysts’ estimates on the back of robust demand for its target detection sensors and marine equipment. On an adjusted basis, the company earned $5.52 per share in the quarter, compared with the average analyst estimate of $5.22, according to data compiled by LSEG. Defense firms have benefited from an uptick in spending amid the ongoing conflict in the…
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