Also see: Raytheon's First Reward
"Raytheon sees a rosier 2009
Defense contractor Raytheon Co. yesterday forecast higher earnings this year as a big order backlog and prospects for more overseas sales overshadowed news of lower fourth-quarter income. The Waltham company is the latest Pentagon weapons supplier to paint a fairly optimistic picture despite turmoil in the broader economy and the threat of possible defense spending cuts.
Yup, when it comes to WARS and WAR PROFITEERS, things are looking pretty good!
Net income totaled $421 million, or $1.02 per share, in the latest quarter, down from $598 million, or $1.37 per share, a year earlier. Excluding a year-earlier boost and a pension charge in the latest quarter, Raytheon's core earnings climbed 17 percent. Fourth-quarter revenue was nearly flat at $6.1 billion. For 2008, Raytheon earned $1.7 billion, or $4.06 per share. Revenue stood at $23.2 billion for the year.
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