Raytheon Now Armed with a Solid Quarter - trackseekingalpha

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Raytheon Now Armed with a Solid Quarter
Jul 23, 2009 04:43 PM UTC

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Symbol	Sentiment	Start	Return	Closed
RTN	n/a
MS	n/a
NCS	n/a
LMT	n/a
TS	n/a

Via Long Investment Ideas from Seeking Alpha:

Before markets opened today, Raytheon Company (RTN) announced its second quarter results. The defense electronics giant in contrast to the big daddy of defense contractors, Lockheed Martin Corporation (LMT) reported 25% higher EPS of $1.24 over the year-ago quarter. In contrast, Lockheed Martin on Tuesday reported 13% lower EPS over the year-ago quarter. While Lockheed was swept away by pension blues, Raytheon gained $11 million during the quarter from pension adjustments.

Raytheon exceeded both our and market expectations of $1.13 for the quarter. Operating income fell marginally year-over-year (1.9%) in the Integrated Defense Systems (IDS) and Missile Systems (MS) (7%) segments. This was more than made up by Network Centric Systems (NCS) (12.6%), Space and Airborne Systems (SAS) (24.1%), and Technical Services (TS) (17.8%), along with steady Intelligence and Information Systems (IIS).

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