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.


 
 

 
Virgin Galactic photograph

NTSB concludes SpaceShipTwo flight test accident investigation

Virgin Galactic photograph WhiteKnightTwo and the first SpaceShipTwo during a captive carry test flight over the Mojave Desert. MOJAVE, Calif.–The National Transportation Safety Board has concluded the investigation of th...
 
 

Headlines July 27, 2015

News: U.S.-Turkey deal aims to create de facto ‘safe zone’ in northwest Syria¬†– Turkey and the United States have agreed on the outlines of a de facto “safe zone” along the Turkey-Syria border under the terms of a deal that is expected to significantly increase the scope and pace of the U.S.-led air war against...
 
 

News Briefs July 27, 2015

Putin OKs maritime code calling for strong Atlantic presence Russian President Vladimir Putin has approved a new version of the country’s maritime doctrine that calls for maintaining a strong Russian presence in the Atlantic Ocean amid concerns about NATO expansion. The doctrine, which covers naval, merchant marine and scientific maritime issues, also adds the Antarctic...
 

 
Army photograph by SFC Walter E. van Ochten

U.S., Ukraine, Romania, Bulgaria train together at Rapid Trident 2015

Army photograph by SFC Walter E. van Ochten U.S. soldiers, of the 3rd Platoon, 615th Military Police Company, 709th Military Police Battalion, react as they conduct reacting to contact training as part of their situational trai...
 
 
nasa-astronaut

Astronaut Stephen Frick retires from NASA

Astronaut Stephen Frick has retired from NASA to accept a position in the private sector. Frick, who flew as both a shuttle pilot and commander, left the Agency July 13. Steve has been a great asset to the astronaut office and ...
 
 
Army photograph by Sgt. Juana M. Nesbitt

Estonian, US forces receive new jump wings

Army photograph by Sgt. Juana M. Nesbitt Pvt. Kalmer Simohov, of Parnu, a volunteer with the Estonian Defense League, receives his U.S. Army Airborne wings following the joint airborne operations exercise at a drop zone in Nurm...
 




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=""> <s> <strike> <strong>