8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 2, 2004

Teledyne Technologies Incorporated

(Exact name of registrant as specified in its charter)

Delaware	1-15295	25-1843385
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

12333 West Olympic Boulevard Los Angeles, California	90064-1021
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (310) 893-1600

Not Applicable
(Former name or former address, if changed since last report)

TABLE OF CONTENTS

	Item 5. Other Events and Regulation FD Disclosure.
	Item 7. Financial Statements and Exhibits.
SIGNATURE
Exhibit 99.1

Item 5. Other Events and Regulation FD Disclosure.

On July 2, 2004 Teledyne Investment, Inc., a subsidiary of Teledyne Technologies Incorporated, acquired for $41.5 million all of the stock of Reynolds Industries, Incorporated a supplier of specialized high voltage connectors and subassemblies for defense, aerospace and industrial applications.

The Press Release issued by Teledyne on July 2, 2004 is attached as an exhibit and is incorporated by reference herein.

Item 7. Financial Statements and Exhibits.

Exhibit 99.1 — Press Release issued by Teledyne Technologies Incorporated.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TELEDYNE TECHNOLOGIES INCORPORATED
By:	/s/ Dale A. Schnittjer
	Dale A. Schnittjer
	Vice President and Chief Financial Officer

Dated: July 2, 2004

EX-99.1

12333 West Olympic Blvd.

Los Angeles, CA 90064

NEWSRELEASE

Teledyne Completes Acquisition of
Reynolds Industries, Incorporated

LOS ANGELES — July 2, 2004 — Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Investment, Inc., has completed the acquisition of Reynolds Industries, Incorporated for $41.5 million. Reynolds Industries is a leading supplier of specialized high voltage connectors and subassemblies for defense, aerospace and industrial applications, as well as unique pilot helmet mounted display components and subsystems. Reynolds Industries, Incorporated had sales of approximately $35 million for its fiscal year ended April 30, 2004. Following the acquisition, the business will operate as Teledyne Reynolds, Inc.

Teledyne funded the acquisition from borrowings under a new $280 million five-year credit facility dated June 15, 2004, that was arranged with a syndicate of banks. This facility replaced Teledyne’s prior $200 million credit facility that was set to expire in November 2004. Teledyne expects the acquisition of Reynolds Industries to be accretive to earnings in 2004.

Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom, Mexico and Canada. For more information, visit Teledyne Technologies’ website at www.teledyne.com.

Forward-Looking Statements Cautionary Notice

This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to the company’s earnings and a completed acquisition. Actual results could differ materially from these forward-looking statements. Many factors, including the company’s ability to integrate the acquired product lines and achieve potential synergies, could change anticipated results.

Investor	Jason VanWees
Contact:	(310) 893-1642
Press	Robyn Choi
Contact:	(310) 893-1640