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Raytheon Tops Earnings Expectations, Increases 2009 Guidance

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By Calvin Biesecker Raytheon [RTN] yesterday posted strong second quarter earnings amid modest sales gains driven by growth and improved performance. Net income increased 15 percent to $489 million, $1.23 earnings per share (EPS), compared to $426 million (99 cents EPS) a year ago. Earning from continuing operations increased 17 percent to $504 million ($1.24 EPS), beating analysts' expectations by 11 cents. Raytheon attributed the higher EPS to improved operating performance, a reduced stock share count, and a swing to…

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