[Satellite TODAY Insider 04-29-11] Raytheon Space and Airborne Systems (SAS) reported a 16 percent increase in its 2011 first quarter sales at $1.26 billion, compared with $1.09 billion in 2010 due to growth on classified business and an international airborne tactical radar program, the company announced in its latest financial results issued April 28.
    Raytheon SAS booked $782 million on an international program and $150 million on a number of classified contracts during the quarter. The division’s operating income remained flat at $156 million for both the first quarter of 2011 and 2010; however, the company’s 2011 first quarter operating income included $13 million of costs related to its acquisition of Applied Signal Technology in February.
    "I am very pleased with the company’s solid performance in the quarter, particularly given the challenging budget environment. Our continued focus on cost efficiencies and program performance is reflected in the year-over-year improvements in our operating results," Raytheon Chairman and CEO William Swanson said during a conference call.
    Raytheon SAS is currently undergoing a series of reviews for the GPS OCX satellite contract in February. The company recently completed its integrated base-line and software specification reviews on the program.
    Raytheon GPS OCX Program Manager Bob Canty told Satellite TODAY Insider that the GPS OCX program is on schedule through the end of the year. "Our software iteration 1.3 will conclude in October. We will have our hardware critical design review in the June or July time period so we can start to deploy that hardware out to the sites. My team is approaching our preliminary design review, which will happen by the end of our second quarter. That’s pretty much our schedule up to December," Canty said.
    Raytheon Network Centric Systems saw its first quarter 2011 net sales slip from $1.17 billion in 2010 to $1.12 billion in 2011 due to lower sales on a U.S. Army sensor program. NCS recorded $160 million of operating income compared with $163 million in the first quarter 2010.
    Raytheon’s overall net sales remained flat year-over-year at $6.1 billion in both the first quarter 2011 and the first quarter 2010. Swanson said the company’s first quarter 2011 operating cash flow from continuing operations of $69 million was better than expected, driven by improved cash collections.

Related Stories-

Contracts News   Via Satellite   April 1, 2011
Boeing Captures Military Ka-band Satcom Study Contract The U.S. Military Satellite Communications Systems Directorate awarded a $900,000 contract to Boeing to explore ways to modify commercial satellite capabilities to meet military satellite…

Panasonic Avionics to Provide Ku-band In-Flight Service to SAS Airlines �   Satellite Today   February 18, 2011
[Satellite TODAY 02-18-11] In-flight entertainment and communications systems developer Panasonic Avionics signed a letter of intent with Scandinavian Airlines (SAS) to deliver full Ku-band broadband connectivity and mobile phone service on SAS’…

Raytheon Completes Applied Signal Technology Acquisition   Satellite Today   February 1, 2011
[Satellite TODAY 02-01-11] Raytheon completed its acquisition of Applied Signal Technology (AST) in a $490 million tender offer for about 12 million of AST s outstanding shares, Raytheon announced Jan. 31. ��� AST will be renamed Raytheon Applied…