April 24 (Reuters) - U.S. defense contractor Teledyne

Technologies ( TDY ) on Wednesday cut its annual profit forecast

after missing first-quarter estimates on weak sales in its

imaging and instrumentation businesses.

Teledyne ( TDY ), which makes digital imaging sensors and

measurement instruments for marine applications, now expects

2024 adjusted profit between $19.25 and $19.45 per share, down

from its previous forecast of $20.35 to $20.68 per share.

The California-based company said sales growth in the

industrial automation markets, including test and measurement,

weakened more than planned in the first quarter.

"We now forecast full-year sales in those product families

to decline meaningfully in 2024," Teledyne ( TDY ) Executive Chairman

Robert Mehrabian said.

Sales in its digital imaging segment, which made up 56% of

total net sales in 2023, declined 4.1% from a year earlier.

However, sales in its aerospace and defense electronics

segment, which contributed 13% to total net sales in 2023,

increased 10.4% from a year ago, as sales improved.

It reported a first-quarter adjusted profit of $4.55 per

share, below analysts' estimates of $4.63, according to LSEG

data.

Quarterly revenue came in at $1.35 billion, below estimates

of $1.39 billion.