Thousand Oaks-based Teledyne Technologies announced today that its subsidiary, Teledyne Brown Engineering in Huntsville, Ala., has been awarded a $120.1 million contract for work with the International Space Station, or ISS.

Teledyne designs and manufactures aerospace and engineered systems, electronic testing equipment and imaging systems.

Teledyne Brown has provided more than 100,000 hours providing dedicated payroll operations and integration support over the 15-year span of its initial contract, according to a news release. The company has furthered NASA science research aboard the ISS through the integration of payloads, training, developing experiment procedures and delivering real-time support to science teams from around the world.

The contract with NASA begins on March 1 and has a potential performance period of five years.

Robert Mehrabian, CEO, chairman and president of Teledyne, said that his company has a long history of supporting NASA science operations on the ISS.

“This award speaks to our strengths in remote space-based science operations and is highly complementary to our commercial space imaging business,” Mehrabian said in a news release.

The industrial and defense conglomerate hit a record-setting $2.1 billion sales mark in 2012, up more than 9 percent from $1.9 billion a year before. Net income also set a record of $161.8 million, compared to $142.1 million in 2011.

The driver of Teledyne’s growth stems from its successful pivot toward commercial and industrial markets, in particular its focus on undersea exploration and on cutting-edge testing equipment that is being used in a global wave of electronics development to meet demand from tablet and smartphone users.

The news release defines the award as a “potential prime contract” because several factors could change the government contract’s value, including funding, continuation and award of government programs, as well as cuts to government spending resulting from future deficit reduction measures, the news release reads.