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Wichita Business Journal - 9:48 AM CDT Thursday
Raytheon Aircraft sales up 18 percent in Q1
Ken Vandruff [font=Times New Roman,Times,Serif]Raytheon Co. officials say a sales bump of 18 percent at Raytheon Aircraft Co. helped the parent company report first quarter 2005 net income of $166 million, or 36 cents a share, compared to net income of $128 million for the first quarter of 2004.
First quarter net sales for Raytheon (NYSE: RTN) were $4.9 billion, up 6 percent from $4.7 billion for the same time period last year.
Raytheon Aircraft reported net sales of $442 million during the first quarter of 2005, an 18 percent increase over net sales of $374 million for the first three months of 2004. Net income was $2 million this year after recording a $28 million dollar loss during the first quarter of 2004.
"This is primarily due to higher new and used aircraft sales, combined with continued productivity and cost savings improvements," says Biggs Porter, Raytheon Co.'s acting chief financial officer.
Porter says Raytheon Aircraft should see earnings of $100 million to $120 million for the full year.
Raytheon Aircraft still expects to deliver 365 aircraft this year, although the mix of aircraft has been adjusted to project fewer deliveries of its King Air and piston engine airplanes, but more deliveries for government or special mission aircraft.
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© 2005 American City Business Journals Inc.
Wichita Business Journal - 9:48 AM CDT Thursday
Raytheon Aircraft sales up 18 percent in Q1
Ken Vandruff [font=Times New Roman,Times,Serif]Raytheon Co. officials say a sales bump of 18 percent at Raytheon Aircraft Co. helped the parent company report first quarter 2005 net income of $166 million, or 36 cents a share, compared to net income of $128 million for the first quarter of 2004.
First quarter net sales for Raytheon (NYSE: RTN) were $4.9 billion, up 6 percent from $4.7 billion for the same time period last year.
Raytheon Aircraft reported net sales of $442 million during the first quarter of 2005, an 18 percent increase over net sales of $374 million for the first three months of 2004. Net income was $2 million this year after recording a $28 million dollar loss during the first quarter of 2004.
"This is primarily due to higher new and used aircraft sales, combined with continued productivity and cost savings improvements," says Biggs Porter, Raytheon Co.'s acting chief financial officer.
Porter says Raytheon Aircraft should see earnings of $100 million to $120 million for the full year.
Raytheon Aircraft still expects to deliver 365 aircraft this year, although the mix of aircraft has been adjusted to project fewer deliveries of its King Air and piston engine airplanes, but more deliveries for government or special mission aircraft.
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© 2005 American City Business Journals Inc.