The VERY DEFINITION of WAR PROFITEERING!!!!
And CUI BONO, 'eh?
"Raytheon bucks the tide as its profit rises sharply" by Robert Weisman, Globe Staff | October 24, 2008
Bucking the tide of dismal corporate earnings, Raytheon Co. yesterday posted sharply higher third-quarter profit and sales on the strength of booming international orders for its missile defense and security systems.
The defense contractor's operating income rose 19 percent to $680 million, while sales climbed 12 percent to $5.9 billion for the three months ended Sept. 30, as compared to the corresponding period last year. Net income was $427 million, or $1.01 per share. Year-ago earnings of $299 million, or 68 cents per share, were weighed down by the sale of a business unit.
Waltham-based Raytheon finished the quarter with a $37 billion backlog as foreign countries nervous about missile proliferation booked orders for the company's antimissile technology.
"Demand in our industry is driven by the threat environment," William H. Swanson, Raytheon's chairman and chief executive, said on a conference call. In contrast to companies that have lowered their expectations, Raytheon raised its outlook for 2008. --more--"
But no $ for schools, roads, bridges, healthcare, mortgage relief, etc, etc.
Sig Heil, Amurka!
