Raytheon Applied Signal Technology was acquired by Raytheon in the 2011 first quarter and helped Raytheon SAS deliver a 2011 fourth quarter net sales boost to $1.34 billion compared with $1.30 billion in the same period last year.

   Improved program performance also helped Raytheon SAS generate growth in its operating income — from $163 million in the fourth quarter of 2010 to $214 million in 2011. The division produced $717 million of operating income for the 2011 full year and booked $212 million in U.S. Navy production orders for Active Electronically Scanned Array (AESA). Raytheon SAS also said it booked $954 million on a number of classified contracts in the 12-month period.

   Overall, parent company Raytheon generated fourth quarter 2011 adjusted earnings-per-share (EPS) of $1.74 compared with $1.55 in the fourth quarter 2010. Raytheon Chairman and CEO William Swanson said the increase was driven by operational improvements and capital deployment actions. 

   “In a year of economic uncertainty, the Raytheon team focused on what we do best — ensuring customer success through program performance and product innovation," Swanson said in a statement. “Improved efficiencies and lower costs drove operating margin and earnings performance, while global demand for our affordable solutions resulted in strong orders.”

   Raytheon drove in strong 2011 fourth quarter bookings at $7.14 billion compared with $5.98 billion in the fourth quarter 2010, resulting in a book-to-bill ratio of 1.11. The company held five fewer workdays in the 2011 final quarter than it did in the 2010 fourth quarter.