Business

April 26, 2012

Raytheon first quarter profit jumps, lifts 2012 outlook

Raytheon posted a 17 percent jump in the first-quarter profit April 26 and the defense contractor boosted its full-year outlook with sales for missile, intelligence and information systems on the rise.

The big jump in comparable net income was partially due to the charges that the company was saddled with during the same period last year, but it still beat Wall Street expectations handily when those one-time items are removed.

Its outlook also topped the predictions of most analysts that follow the company.

Raytheon earned $448 million, or $1.32 per share, compared with $384 million, or $1.06 per share, a year ago.

Removing certain items, earnings rose to $1.46 per share from $1.37 per share.

Analysts expected only $1.16 per share, according to a poll by FactSet.

However, for the three months ended April 1, revenue fell 2 percent to $5.94 billion, missing the Wall Street consensus forecast of $6.46 billion.

Quarterly bookings at the Waltham, Mass. company climbed to $5.16 billion from $5.1 billion, while backlog increased to $34.3 billion from $33.71 billion.

Raytheon now expects full-year adjusted earnings of $5.55 to $5.70 per share, up from $5.45 to $5.60 per share. It reaffirmed its guidance for revenue between $24.5 billion and $25 billion.

Analysts forecast 2012 earnings of $5.07 per share on revenue of $24.54 billion. AP

 




All of this week's top headlines to your email every Friday.


 
 

 

Headlines March 23, 2015

News: Obama says more troops will stay in Afghanistan next year - President Obama March 24 formally abandoned his pledge to bring U.S. troop levels in Afghanistan down to 5,000 by the end of this year, saying the current force of about 10,000 will remain there into 2016.   Business: U.S. special ops to sole-source 2,000...
 
 

News Briefs March 25, 2015

Pentagon notifying U.S. troops named by alleged IS hackers The Pentagon said March 23 it is notifying 100 U.S. military members that their names and addresses were posted on the Internet by a group calling itself the Islamic State Hacking Division. The group said it was posting the information, including photos of the individuals, to...
 
 
Courtesy photograph

Lockheed Martin acquires high-speed wind tunnel, plans upgrades

Courtesy photograph A RATTLRS cruise-missile inlet undergoes testing at the High Speed Wind Tunnel at Lockheed Martin Missiles and Fire Control in Grand Prairie. Lockheed Martin recently purchased the facility and plans numerou...
 

 
Lockheed Martin photograph by Andrew McMurtrie

Off they go: Three more C-130Js delivered

Lockheed Martin photograph by Andrew McMurtrie March 19, a U.S. Air Force crew took delivery of and ferried an MC-130J Commando II Special Operations tanker aircraft that is assigned to Air Force Special Operations Command’s ...
 
 

Northrop to provide DIRCM for Canadian Chinook fleet

Northrop Grumman has been selected by the Royal Canadian Air Force to provide infrared missile protection on its fleet of CH-147F Chinooks. “Battle-tested in the harshest conditions and in use around the world, Northrop Grumman’s infrared countermeasure systems have been protecting warfighters for more than 50 years,” said Carl Smith, vice president, infrared countermeasures, ...
 
 

UTC Aerospace awarded contract for surface ship sonar domes

UTC Aerospace Systems has received a contract from the Naval Surface Warfare Center – Crane, Indiana, to provide sonar domes for surface combat ships. The five-year indefinite delivery, indefinite quantity contract is valued at up to $39 million and covers deliveries through 2020 to the U.S. Navy and foreign military sales. In addition to the...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>