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Tax Resolution Boosts Raytheon’s Net Income Despite Sales Drop In Fourth Quarter

By Cal Biesecker

Thursday, January 30th, 2014

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Tax Resolution Boosts Raytheon’s Net Income Despite Sales Drop In Fourth Quarter

Raytheon's Patriot air and missile defense system. (Photo: Raytheon)

Raytheon [RTN] on Thursday reported higher net income in the fourth quarter due to the resolution of tax matters from discontinued operations although sales tumbled, as expected, amid challenges in the federal market. Excluding the impact of the discontinued operations--which consist of former aircraft businesses--earnings from continuing operations were flat at $467 million, $1.46 earnings per share (EPS), versus $466 million ($1.41 EPS) a year ago. Those results easily beat consensus estimates of $1.35 EPS, in part due to a…

Congress

Munitions Fired Represent Most of $25 Billion Spent By Pentagon on Iran War So Far

Munitions fired in the two-month old “Operation Epic Fury” against Iran represent most of the $25 billion cost the Pentagon has incurred thus far in the conflict, the acting Defense […]

Congress

Slotkin: Pentagon Should Use Anthropic’s Mythos To Spot Cyber Security Gaps

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Budd And Shaheen Bill Would Authorize 329 F-15EX Fighters

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Congress

HASC’s Wittman Sees ‘Challenging’ Push For $350B In Reconciliation Funds, Wants Sustained Defense Increase

NATIONAL HARBOR, Md.– Congress’ work to pass $350 billion in reconciliation funds to support the Trump administration’s push for a $1.5 trillion fiscal year 2027 defense topline is “going to […]