Basically in line with its peers, Raytheon [RTN] yesterday posted higher first quarter earnings amid flat sales, as an extension of the federal research and development tax credit combined with a lower share count and improved operating margins raised the bottom line. Net income increased 9 percent to $488 million, $1.49 earnings per share (EPS), versus $448 million ($1.32 EPS), topping consensus estimates of $1.28 EPS. The retroactive extension of the tax credit to all of 2012 through the end…
Tax Credit, Stock Repurchases, Margin Improvement Boost Raytheon’s Income As Sales Flatten
Defense Daily Staff
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