Latest News

Boeing Has Largest Quarterly Profit Gain; Raytheon Wins For Year

By Staff Writer | February 12, 2007

      The Boeing Co. [BA] posted the best percentage profit increase among several leading defense contractors, in results for the fourth quarter of 2006. But for the full year, Raytheon Co. [RTN] saw the largest increase in income.

      Boeing saw fourth-quarter reported net income skyrocket 115.0 percent to $989 million in the 2006 quarter, from $460 million in the final three months of 2005. For the full year totals, however, net income slipped 13.9 percent to $2.215 billion in 2006 from $2.572 billion in 2005.

      Lockheed Martin Corp. [LMT] reported net earnings jumped 28.3 percent to $729 million in the final three months of 2006, shading the $568 million in the 2005 fourth quarter. In full-year figures, net earnings soared 38.6 percent in all of 2006 to $2.529 billion, compared to $1.825 billion in all of 2005.

      Northrop Grumman Corp. [NOC] income from continuing operations shot up 36.8 percent in the fourth quarter of 2006, measuring the $457 million in the final three months of the year against the $334 million in the final three months of 2005. Comparing total yearlong 2006 income over total 2005, the advance was a still-substantial 14.3 percent rise to $1.6 billion in 2006 over $1.4 billion in the prior year.

      General Dynamics Corp. [GD] reported flat net earnings of $408 million in the final quarter of 2006 against $406 million in the last quarter of 2005. But for the full year, net earnings jumped 27.0 percent to $1.856 billion in the final period of 2006, overshadowing the $1.461 billion in the last quarter of 2005.

      Raytheon saw fourth-quarter net income accelerate 32.2 percent to $365 million in the final three months of 2006 from $276 million in the closing period of 2005. In full-year results, Raytheon posted net income of $1.283 billion for all of 2006, a winning 47.3 percent jump from the $871 million in 2005.

      To summarize, for fourth-quarter results, Boeing posted the best percentage gain, followed in order by Northrop, Raytheon, Lockheed and General Dynamics. In full-year profit growth, Raytheon led, followed in order by Lockheed, General Dynamics, Northrop and Boeing.