Teledyne, the aviation, electronics and insurance conglomerate,...

Teledyne, the aviation, electronics and insurance conglomerate, reported sharply higher net income for the first quarter ended March 31. This year’s net income included a gain of $91.6 million on the sale of investments. For the three months ended March 31, the Los Angeles-based company showed a net profit of $123.5 million on revenue of $818.1 million, compared to a year earlier when it netted $35.4 million on revenue of $877.1 million.

Mead Corp. reported a 9% increase in its first-quarter earnings over the first quarter of 1984. Although a strong U.S. dollar reduced prices for Mead’s products overseas and opened many domestic markets to increased foreign competition, officials of the Dayton, Ohio-based company said Mead benefited from new capacities and operating efficiencies.

Secaucus, N.J.-based Celanese reported an 18% decline in first-quarter profits. “Our industrial fibers, smoking products and engineering resins operations continued to be the strongest income contributors,” said John D. Macomber, chairman, president and chief executive. “Corporate-wide efforts to control costs and bolster quality also have been very successful.

For detailed data and results of other companies, please see accompanying tables.