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Raytheon Delivers Strong Earnings In First Quarter On Operating Performance

Cal Biesecker By
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Raytheon Delivers Strong Earnings In First Quarter On Operating Performance
Raytheon's Enterprise Air Surveillance Radar being developed for the Navy successfully completed a preliminary design review, the company said last week. The configurable radar is seen by the company as one of the growth drivers of its Navy business. Photo: Raytheon

Raytheon [RTN] on Thursday reported strong earnings in the first quarter due to gains in each of its key operating segments and the company also posted a modest increase in sales.Net income increased 18 percent to $506 million, $1.74 earnings per share (EPS), versus $428 million ($1.43 EPS) a year ago. Excluding discontinued operations, per share earnings were $1.73, 12 cents better than consensus estimates. Total operating margins were 12.4 percent, 1.8 percent higher than a year ago.Sales increased 3…

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