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Raytheon Posts Strong First Quarter Helped By Lower Taxes, Better Performance

Cal Biesecker By
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Raytheon Posts Strong First Quarter Helped By Lower Taxes, Better Performance
Raytheon Chairman and CEO Tom Kennedy. Photo: Raytheon

Raytheon [RTN] on Thursday posted strong first quarter financial results, driven by lower taxes, and improved operating performance, and the company increased its guidance this year for sales and earnings.Lower taxes that went into effect on Jan. 1 have helped underpin solid to strong results for all the major defense companies that reported first quarter financials this week.Net income at Raytheon increased 25 percent in the quarter to $633 million, $2.19 earnings per share (EPS), from $506 million ($1.74 EPS)…

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