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Business/Financial

Acquisition Costs Trim Raytheon’s Income In Fourth Quarter As Sales Rise

By Cal Biesecker

Thursday, January 28th, 2016

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Acquisition Costs Trim Raytheon’s Income In Fourth Quarter As Sales Rise

Raytheon Chairman and CEO Tom Kennedy. Photo: Raytheon

Accounting adjustments related to Raytheon’s [RTN] acquisition last year of a cyber security firm helped lower the company’s fourth quarter earnings despite a modest rise in sales, and the company provided guidance for 2016 that includes increases in sales and earnings.Net income in the quarter was down 2 percent to $571 million, $1.89 earnings per share (EPS), from $582 million ($1.88 EPS) a year ago. A lower share count contributed to the improved per share results.Excluding results from discontinued operations,…

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