Raytheon SAS Division Struggles in Third Quarter
[10-26-07 – Satellite Today] Raytheon Co.‘s Space and Airborne Systems division had a tough third quarter, reporting a five percent revenue loss in the quarter to the end of September, compared to the corresponding quarter last year. This was one of the highlights of the company’s financial results issued, Oct. 25.
Raytheon’s Space and Airborne Systems division reported revenues of $1.01 billion for the quarter, compared to $1.06 billion in the same quarter last year. The company says the loss was primarily due to "lower volume on some airborne systems programs and a reduction in classified space bookings due to customer reprioritization.”
In general, the company said it had a strong third quarter, with overall revenues increasing eight percent, from $4.9 billion in the third quarter last year to $5.3 billion this year.