Raytheon Announces First Quarter 2014 Financial Results
[Via Satellite 04-29-2014] Raytheon reported its first quarter 2014 Earnings per Share (EPS), which was $1.87 from continuing operations, an increase compared to first quarter 2013 EPS at $1.49. Adjusted EPS for first quarter 2014 was $1.43 per diluted share, in comparison to $1.56 per diluted share in first quarter 2013. The 2014 adjusted EPS does not include the $0.25 favorable tax impact from cash repatriation in the first quarter.
The number also excluded a favorable FAS/CAS adjustment of $0.18 per share.
Net sales for the first quarter 2014 totaled $5.5 billion, with an operating cash flow from continuing operations at $659 million, in comparison to an operating cash flow of $422 million in first quarter 2013.
“Raytheon delivered solid operating performance in the first quarter,” said Thomas A. Kennedy, CEO of Raytheon. “Our longstanding focus on operational excellence, consistent program performance and a portfolio of affordable and innovative solutions provides a strong foundation for ongoing value creation for our global customers and shareholders.”