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Raytheon’s Net Income Drops On Higher Expenses, Loss In Former Business

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By Calvin Biesecker Raytheon [RTN] yesterday said its fourth quarter sales edged up slightly but that pension expense, a charge related to early debt retirement and a loss from discontinued operations, lowered net income. Net income fell 9 percent to $459 million, $1.25 earnings per share (EPS), from $504 million ($1.30 EPS). Excluding the discontinued operations, earnings declined a percent to $499 million (1.37 EPS) from $504 million ($1.30 EPS). Per share earnings actually increased due to a lower share…

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