Teledyne 3Q report

Profits and sales at Teledyne Technologies continued to rise in the third quarter. The Thousand Oaks, Calif., based company reported profits of $30.9 million, up 14 percent from 2007’s third quarter. The news was not as good for the company’s Mobile subsidiary, Teledyne Continental Motors. The operation laid off 20 workers from its second shift earlier this month because of slumping demand for airplane engines and parts, leaving it with about 500 workers. (Source: Mobile Press-Register, 10/24/08)