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Teledyne Technologies' (TDY) CEO Robert Mehrabian on Q1 2018 Results - Earnings Call Transcript

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Teledyne Technologies, Inc. (NYSE:TDY) Q1 2018 Earnings Conference Call May 3, 2018 11:00 AM ET


Jason VanWees - SVP, Strategy, Mergers & Acquisitions

Robert Mehrabian - Chairman, President & CEO

Susan Main - SVP & CFO


Gregory Konrad - Jefferies

James Ricchiuti - Needham & Company

George Godfrey - CL King & Associates


Ladies and gentlemen, thank you for your patience and standing by. Welcome to Teledyne's First Quarter Earnings Call. [Operator Instructions]. Just a brief reminder, today's conference is being recorded.

And I'd now like to turn the conference over to Jason VanWees.

Jason VanWees

Good morning, everyone. This is Jason VanWees, Senior Vice President, Strategy and M&A at Teledyne. And I would like to welcome everyone to Teledyne's First Quarter 2018 Earnings Release Conference Call. We released our earnings earlier this morning. Joining me today is Teledyne's Chairman and CEO, Robert Mehrabian; President and COO, Al Pichelli; Senior Vice President and CFO, Sue Main; and Senior Vice President, General Counsel, Chief Compliance Officer and Secretary, Melanie Cibik. After remarks by Robert and Sue, we will ask for your questions.

However, before we get started, our attorneys have reminded me to tell you that all forward-looking statements made this morning are subject to various assumptions, risks and caveats, as noted in the earnings release and our periodic SEC filings. And, of course, actual results may differ materially.

In order to avoid potential selective disclosures, this call is simultaneously being webcast and a replay, both via webcast and dial-in, will be available for approximately 1 month.

Here is Robert.

Robert Mehrabian

Thank you, Jason, and good morning, everyone. We began 2018 with an outstanding quarter. We achieved record sales, record earnings per share and record operating margin for any first quarter. Total sales increased 22.9%, including organic growth of 7.9%. Our Digital Imaging segment performed exceptionally

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