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Article: Teledyne Tons List Thanks To Spinoff Circumstances.
- Article from:
- Los Angeles Business Journal
- Article date:
- May 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Teledyne Technologies Inc. may be a new kid on the block, but last year it reported a better return on equity than any other public company in Los Angeles County.
Until last year, Teledyne, an aerospace and electronics firm whose products include communications systems for commercial airlines and turbine engines for missiles, was a unit of specialty metals producer Allegheny Technologies in Pittsburgh.
But on Nov. 29, Teledyne Technologies was spun off as an independent company headquartered in Century City. And that spinoff is one of the reasons Teledyne's return on equity was a whopping 110.1 percent, analysts said. That number is something of an ...