Teledyne Sees Larger 2nd-Quarter Charge

Teledyne Technologies Inc. said it expects to post a larger second-quarter charge, as it plans to cut 14% of its work force by the end of the year and exit some businesses.

Teledyne, which makes electronics, communications products and aerospace components, said it sees a second-quarter pretax charge of about $25 million to $27 million, or 46 to 50 cents per diluted share. The company previously said second-quarter earnings would include a pretax charge of about $5 million to $10 million.

The company said it eliminated 207 more jobs during the second quarter, bringing the total work force reduction to 507 positions, or about 9% of its total work force.