UPDATE 1-Teledyne Q3 profit beats Street; raises 2009 EPS view

* Q3 EPS $0.96 vs est $0.74

* Q3 rev falls 14 pct

* Raises 2009 EPS view

Oct 22 (Reuters) - Teledyne Technologies Inc (TDY.N: 行情), which provides electronic components and subsystems, reported a better-than-expected quarterly profit, mainly helped by cost controls, and raised its 2009 outlook.

For the third quarter, the company reported earnings of $35.1 million, or 96 cents a share, compared with earnings of $30.9 million, or 84 cents a share, a year ago.

Revenue fell 14 percent to $429.4 million, hurt by an 11 percent fall in electronics and communications revenue. Total costs and expenses fell about 14 percent.

Analysts on average were expecting earnings of 74 cents a share, before items, on revenue of $458.1 million, according to Thomson Reuters I/B/E/S.

For 2009, the company now expects earnings of about $2.94 to $2.98 a share, compared with its prior view of about $2.70 to $2.80 a share.

Analysts on average were expecting 2009 earnings of $2.76 a share.

Shares of the company closed at $35.49 Wednesday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Ratul Ray Chaudhuri)