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Business/Financial

Raytheon Posts Strong Earnings Despite Sales Slump

Defense Daily Staff

Friday, July 27th, 2012

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Raytheon [RTN] yesterday reported strong second quarter earnings due to improved performance across its program mix, although sales fell due to softness in international and domestic defense spending. The strong operating results combined with a reduced share count that was achieved through stock repurchases led Raytheon to boost its earnings guidance for the year. Net income increased 8 percent to $471 million, $1.41 earnings per share (EPS), from $438 million ($1.23 EPS) a year ago, climbing well above analysts’ expectations…

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