Teledyne Inc. reported that net income for...

Teledyne Inc. reported that net income for the second quarter ended June 30 was $58.3 million, down from last year’s $224.6 million. Net income included gains on sales of investments of $6.2 million in 1986 and $95.4 million in 1985. The Los Angeles firm noted that the underwriting results of its casualty insurance subsidiaries improved in the first half of 1986, compared to the same period of 1985.