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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 30, 2012
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)

The following is Teledyne's quarterly information (in millions, except per-share amounts):
 
 
  
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter
Fiscal year 2012 (a)
  
 
 
 
 
 
 
 
Sales from continuing operations
 
$
494.0

  
$
518.5

  
$
547.4

  
$
567.4

Gross profit from continuing operations
 
$
165.9

  
$
175.5

  
$
198.4

  
$
208.4

Earnings from continuing operations (b)
 
$
35.6

  
$
39.6

  
$
43.1

  
$
44.5

Earnings from discontinued operations
 
$
—

 
$
—

 
$
—

  
$
2.3

Net income
 
$
35.6

  
$
39.6

  
$
43.1

  
$
46.8

Less: Net income attributable to noncontrolling interest
 
$
0.1

  
$
(0.1
)
 
$
(0.4
)
  
$
(0.6
)
Net income attributable to Teledyne (c)
 
$
35.7

  
$
39.5

  
$
42.7

  
$
46.2

 
 
 
 
 
Basic earnings per share attributable to Teledyne:
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.98

  
$
1.08

  
$
1.17

  
$
1.19

Discontinued operations
 
$
—

 
$
—

  
$
—

  
$
0.06

Basic earnings per share
 
$
0.98

  
$
1.08

  
$
1.17

  
$
1.25

 
 
 
 
 
Diluted earnings per share attributable to Teledyne:
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.96

  
$
1.06

  
$
1.14

  
$
1.17

Discontinued operations
 
$
—

 
$
—

  
$
—

  
$
0.06

Diluted earnings per share
 
$
0.96

  
$
1.06

  
$
1.14

  
$
1.23

 
 
 
 
 
 
 
 
 
a) Fiscal year 2012 was a 52-week year, each quarter contained 13 weeks.
 
 
b) The second quarter includes a gain of $0.6 million on the purchase of the minority interest in Optech.
 
 
c) Includes net tax credits, $1.1 million, $0.1 million, $3.1 million and $1.1 million in the first, second, third and fourth quarters of 2012, respectively.
 
 
 
  
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter
Fiscal year 2011 (a)
  
 
 
 
 
 
 
 
Sales from continuing operations
  
$
468.1

  
$
502.9

  
$
496.4

  
$
474.5

Gross profit from continuing operations
  
$
155.0

  
$
172.3

  
$
165.1

  
$
158.8

Earnings from continuing operations (b)
  
$
32.5

  
$
38.8

  
$
34.1

  
$
36.7

Discontinued operations (c)
  
$
(0.5
)
 
$
113.6

 
$
—

  
$
—

Net income
  
$
32.0

  
$
152.4

  
$
34.1

  
$
36.7

Less: Net income attributable to noncontrolling interest
  
$
—

  
$
(0.1
)
 
$
—

  
$
0.1

Net income attributable to Teledyne (d)
  
$
32.0

  
$
152.3

  
$
34.1

  
$
36.8

 
 
 
 
 
Basic earnings per share attributable to Teledyne:
  
 
 
 
 
 
 
 
Continuing operations
  
$
0.89

  
$
1.06

  
$
0.93

  
$
1.01

Discontinued operations
  
$
(0.01
)
 
$
3.10

  
$
—

  
$
—

Basic earnings per share
  
$
0.88

  
$
4.16

  
$
0.93

  
$
1.01

 
 
 
 
 
Diluted earnings per share attributable to Teledyne:
  
 
 
 
 
 
 
 
Continuing operations
  
$
0.87

  
$
1.04

  
$
0.91

  
$
0.99

Discontinued operations
  
$
(0.01
)
 
$
3.04

  
$
—

  
$
—

Diluted earnings per share
  
$
0.86

  
$
4.08

  
$
0.91

  
$
0.99

 
 
 
 
 
 
 
 
 
a) Fiscal year 2011 was a 52-week year, each quarter contained 13 weeks.
 
 
b) The fourth quarter includes income of $2.3 million related to the reduction of an environmental reserve no longer needed and also includes a $4.5 million pretax charge to write off a minority investment in a private company.
 
 
c) The second quarter includes a gain on the sale of discontinued operations of $113.8 million.
 
 
d) Includes net tax credits of $2.4 million which was recorded in the third quarter.