:

Business/Financial

Raytheon’s Earnings Drop In Fourth Quarter On Tax Bite; Sales Up

By Cal Biesecker

Thursday, January 25th, 2018

SHARE:

Raytheon’s Earnings Drop In Fourth Quarter On Tax Bite; Sales Up

Raytheon Chief Financial Officer Anthony "Toby" O'Brien said the company's capital expenditures will increase 50 percent in 2018. Photo: Raytheon

Raytheon [RTN] on Thursday posted lower earnings in its fourth quarter stemming from provisions in a new tax law and to a lesser extent a voluntary payment into its pension plans but sales were higher and the company is projecting top and bottom line increases in 2018.Net income tumbled 29 percent to $393 million, $1.35 earnings per share (EPS), from $555 million ($1.88 EPS) as the tax provision lopped $171 million (59 cents EPS) and a discretionary pension contribution chipped…

Congress

SASC’s FY ‘27 NDAA Sticks With Army’s Plan For Legacy Aviation Procurement Cuts

The Senate Armed Services Committee’s (SASC) version of the next defense policy sticks to the Army’s proposed plan to cut procurement of its legacy aviation fleet, and does not authorize […]

Congress

SASC Approves $1.14 Trillion FY ‘27 NDAA With ‘Right to Repair’ Reform, Stock Buyback Restriction

The Senate Armed Services Committee (SASC) has approved its $1.14 trillion version of the next defense policy bill, adopting “right to repair” reform to provide the military services’ greater ability […]

Congress

House Appropriators Unveil $1.07 Trillion FY ‘27 Defense Bill, Restore Funds For E-7, Army Aviation

House appropriators on Wednesday released their $1.07 trillion fiscal year 2027 defense spending bill, with the legislation reversing Army aviation cuts, restoring funding for the Air Force’s E-7 Wedgetail program […]

Congress

MOSA Implementation By Pentagon Lagging, GAO Official Says

While the Modular Open Systems Approach (MOSA) has been a requirement for major defense acquisition programs since January 2019 and other Defense Department acquisitions since January 2021, few programs are […]