Shares of the aerospace-defense contractor rose more than 3% after it reported Q4 sales grew 20% to $567.4 mil, beating analyst guidance of $553 mil. The broad-based sales gain was led by Teledyne Technologies' (TDY) Instrumentation unit, which grew 56% to $232.6 mil. Earnings per share rose 18% to $1.17, topping the target Wall Street set by 9 cents. CEO Robert Mehrabian said in a statement, "Throughout 2012 we accelerated our ongoing transformation into a higher technology company."
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