Business

January 25, 2013

Raytheon fourth quarter net income falls 14 percent on flat sales

Raytheon said Jan. 24 that its fourth-quarter net income fell 14 percent, hurt by lackluster sales, but it issued a better-than-expected profit prediction for the full year.

The Waltham, Mass.,-based defense contractor earned $469 million, or $1.42 per share, down from $543 million, or $1.57 per share, in the same quarter a year ago.

Excluding discontinued operations and one-time items, the company posted adjusted profit of $1.60 per share in the recent quarter.

Revenue was basically flat at $6.44 billion. Sales of integrated defense, missile, and space and airborne systems all rose slightly, offset by a drop in technical services revenue stemming from the completion of a National Science Foundation contract earlier in the year.

The results beat Wall Street predictions. Analysts, on average, expected $1.31 per share on $6.42 billion in revenue, according to FactSet.

For the full year 2012, Raytheon made $1.89 billion, or $5.65 per share, up from $1.87 billion, or $5.28 per share, in 2011. Revenue fell to $24.41 billion from $24.79 billion.

Raytheon projected adjusted 2013 profit of $5.65 to $5.80 per share on $23.6 billion to $24.1 billion in revenue. Analysts expect $5.44 per share and $24.1 billion in revenue. AP




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


 
 

 

President proclaims Memorial Day as ‘Day of Prayer’

President Barack Obama May 22 saluted the service and sacrifices of America’s military members–past and present–and proclaimed Memorial Day, May 25, 2015, “as a day of prayer for permanent peace, and I designate the hour beginning in each locality at 11 a.m. of that day as a time during which people may unite in prayer....
 
 

Air Force leaders’ Memorial Day message

Secretary of the Air Force Deborah Lee James and Air Force Chief of Staff Gen. Mark A. Welsh III send the following Memorial Day message to the Airmen of the Air Force and their families: To the Airmen of the United States Air Force and their Families: On Memorial Day, Americans pause in solemn remembrance...
 
 

Headlines May 22, 2015

News: Second Marine killed in Hawaii Osprey crash identified - Marine Corps officials have identified the second Marine to die as a result of the May 17 MV-22B Osprey crash as Lance Cpl. Matthew J. Determan of Maricopa, Ariz.   Business: Israel defense exports plunge to seven-year low - Israeli defense sales last year plunged to their...
 

 

News Briefs May 22, 2015

Ukrainian officer hit with third charge in Russia A third charge has been filed against a Ukrainian military officer who has been behind bars in Moscow for nearly a year over the deaths of two Russian journalists in Ukraine. Nadezhda Savchenko, who worked as a spotter for Ukrainian troops fighting separatist rebels in eastern Ukraine,...
 
 
Army photograph by C. Todd Lopez

Smart-mortar will help Soldiers more effectively hit targets

Army photograph by C. Todd Lopez Nick Baldwin and Evan Young, researchers with the Armament Research Development and Engineering Center at Picatinny Arsenal, Pennsylvania, discuss the 120mm Guided Enhanced Fragmentation Mortar ...
 
 

Air Force assigns new chief scientist

The Air Force announced the service’s new chief scientist to serve as a science and technology adviser to the secretary of the Air Force and the chief of staff of the Air Force, May 21. Dr. Greg Zacharias will be the 35th chief scientist and is ready to “dive in” to his new role. “I...
 




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>