[Satellite TODAY 10-29-10] Raytheon reported modest sales gains across most of its divisions during the third quarter of 2010, which resulted in a slight boost in its financial position when combined with recent cost-cutting and debt restructuring efforts, the company announced in its latest results issued Oct. 28.
    Space and Airborne Systems (SAS) saw its third quarter 2010 net sales increase by about $100 million over its 2009 results to $1.23 billion due to growth on classified business and on an international tactical radar program. SAS also recorded a $32 million increase in operating income at $191 million during the quarter due to operational improvements. The division booked $87 million in U.S. Air Force and Air National Guard radars and $265 million on classified contracts.
    Raytheon Network Centric Systems (NCS) had third quarter 2010 net sales of $1.22 billion — a slight increase compared to $1.21 billion in 2009 — finishing the quarter with $172 million of operating income. NCS booked $84 million for airborne tactical communications systems for multiple customers.
    Raytheon Intelligence and Information Systems (IIS) saw a slight third quarter 2010 net sales drop to $735 million from $805 million in 2009 due to lower volume on classified programs, a U.S. Air Force program and on the U.K. Border Agency program. IIS’ operating income also dropped by about $8 million to $60 million during the quarter.
    The company said its third-quarter focus was placed on cost-cutting measures. In the three-month period, Raytheon issued $2 billion in long-term debt, exercised a call notice for $678 million of debt maturing in 2012 and 2013 and made a $750 million discretionary cash contribution to its pension plans. The company also repurchased 9.5 million shares of its common stock for $425 million during the as part of a share repurchase program that currently totals 23.7 million shares of common stock for $1.2 billion.