Raytheon Space And Airborne Systems Increases Net Sales In First Quarter
[Satellite Today – 4-24-08] Raytheon Co.’s Space and Airborne Systems (SAS) segment posted an increase of 3 percent in net sales for the first quarter of 2008, the company announced April 24.
SAS reported net sales of $995 million, up 3 percent from $964 million in the first quarter of 2007. Operating income decreased by 6 percent, however, to $121 million from $129 million in 2007, due primarily to a “change in program mix.”
Overall, Raytheon reported net sales of $5.4 billion for the quarter ending March 31, an 11 percent increase from 2007’s $4.8 billion. Net income for the company was $398 million, a 15 percent increase from 2007’s $346 million.
"With the strong performance in the first quarter, the company is off to a good start," said William Swanson, Raytheon’s chairman and CEO in a statement. "Our strong bookings, record backlog and solid operating performance demonstrate the company is continuing to execute and is well positioned going forward."