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Thursday, April 23, 2009

Raytheon First-quarter Net Income Rose 15%

Raytheon Co.(RTN) said Thursday its first-quarter net income from continuing operations jumped to $460 million, or $1.11 a share, from $399 million, or 92 cents a share, in the year-ago period. Analysts polled by FactSet Research were looking for earnings of $1 a share in the recent quarter, on average. Sales rose 10% to $5.9 billion from $5.4 billion. The company ended the quarter with a backlog of $37.9 billion. Shares of Raytheon rose 2.4% in premarket trading to $42.30.

Disclosure I am long RTN shares.

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