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$ RTN. Looking forward to see what type news we will get Tommorow. GO > $ RTN
Raytheon Reports Solid Fourth Quarter and Full-Year 2013 Results
WALTHAM, Mass., Jan. 30, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) announced fourth quarter 2013 Adjusted EPS1 of $1.58 per diluted share compared to $1.62 per diluted share in the fourth quarter 2012. Fourth quarter 2013 EPS from continuing operations was $1.46 compared to $1.41 in the fourth quarter 2012. The fourth quarter 2012 Adjusted EPS1 excluded a $0.06 net charge associated with the impact of early debt retirement, and has been revised to include the favorable $0.02 impact for the 2012 research and development (R&D) tax credit approved by Congress in January 2013. In addition, the fourth quarter 2013 Adjusted EPS1 excluded an unfavorable FAS/CAS Adjustment of $0.12, compared with an unfavorable FAS/CAS Adjustment of $0.13 in the fourth quarter 2012.
Full-year 2013 Adjusted EPS1 was $6.38 per diluted share compared to $6.28 for the full-year 2012. Full-year 2013 EPS from continuing operations was $5.96 compared to $5.65 for the full-year 2012.
_____________________________
1 Adjusted EPS is diluted EPS from continuing operations attributable to Raytheon Company common stockholders, and Adjusted Operating Margin is total operating margin; in each case, excluding the impact of the FAS/CAS Adjustment, and from time to time, certain other items. Full-year 2013 Adjusted EPS excluded the $0.08 impact of the 2012 research and development (R&D) tax credit, approved by Congress in January 2013, that relates to 2012. Q4 2012 and full-year 2012 Adjusted EPS also excluded the impact of the early retirement of debt as discussed above and have been revised to include the favorable $0.02 and $0.07 impact, respectively, for the 2012 R&D tax credit. Adjusted EPS and Adjusted Operating Margin are non-GAAP financial measures. See attachment F for a reconciliation of these measures and a discussion of why the Company is presenting this information.
"Over the past year, the Raytheon team delivered solid operating results in a dynamic business environment," said William H. Swanson, Raytheon's Chairman and CEO. "We continued to expand our international business while also winning significant new programs with our advanced technologies and affordable solutions that position us well for the future."
Summary Financial Results
4th Quarter
%
Twelve Months
%
($ in millions, except per share data)
2013
2012
Change
2013
2012
Change
Net Sales
$
5,870
$
6,439
-8.8%
$
23,706
$
24,414
-2.9%
Income from Continuing Operations attributable to
Raytheon Company
$
467
$
466
0.2%
$
1,932
$
1,889
2.3%
Adjusted Income*
$
506
$
536
-5.6%
$
2,069
$
2,099
-1.4%
EPS from Continuing Operations
$
1.46
$
1.41
3.5%
$
5.96
$
5.65
5.5%
Adjusted EPS*
$
1.58
$
1.62
-2.5%
$
6.38
$
6.28
1.6%
Operating Cash Flow from Continuing Operations
$
1,106
$
988
$
2,382
$
1,951
Workdays in Fiscal Reporting Calendar
59
58
249
249
* Adjusted Income is income from continuing operations attributable to Raytheon Company common stockholders, and Adjusted EPS is diluted EPS from continuing operations attributable to Raytheon Company common stockholders; in each case, excluding the after-tax impact of the FAS/CAS Adjustment and, from time to time, certain other items. Full-year 2013 Adjusted Income and Adjusted EPS both excluded the $0.08 impact of the 2012 R&D tax credit. Q4 2012 and full-year 2012 Adjusted Income and Adjusted EPS also both excluded the impact of the early retirement of debt and have been revised to include the favorable $0.02 and $0.07 impact, respectively, for the 2012 R&D tax credit. Adjusted Income and Adjusted EPS are non-GAAP financial measures. See attachment F for a reconciliation of these measures and a discussion of why the Company is presenting this information.
Net sales for the fourth quarter 2013 were $5.9 billion compared to $6.4 billion in the fourth quarter 2012. Net sales in 2013 were $23.7 billion compared to $24.4 billion in 2012. Net sales for both the fourth quarter and full-year 2013 were in-line with the Company's prior financial guidance. The change in net sales for full-year 2013 reflects a 3 percent increase in international sales partially offsetting the decline in domestic sales, which included the impact of sequestration, the government shutdown, and a continuing resolution.
The Company generated strong operating cash flow for both the fourth quarter and full-year. Operating cash flow from continuing operations for the fourth quarter 2013 was $1.1 billion compared to $1.0 billion for the fourth quarter 2012. For the full-year 2013 and 2012, the Company generated $2.4 billion and $2.0 billion of operating cash flow from continuing operations, respectively.
In the fourth quarter 2013, the Company repurchased 4.7 million shares of common stock for $400 million as part of its previously announced share repurchase program. For the full-year 2013, the Company has repurchased 15.2 million shares of common stock for approximately $1.1 billion. Also, as previously announced in November 2013, the Company's Board of Directors authorized the repurchase of up to an additional $2.0 billion of the Company's outstanding common stock.
The Company ended 2013 with $437 million of net debt. Net debt is defined as total debt less cash and cash equivalents and short-term investments.
Bookings and Backlog
Bookings
Backlog
($ in millions)
4th Quarter
Twelve Months
($ in millions)
Period Ending
2013
2012
2013
2012
2013
2012
Bookings
$
7,517
$
7,892
$
22,132
$
26,504
Backlog
$
33,685
$
36,181
Funded Backlog
$
23,014
$
24,047
The Company had bookings of $7.5 billion in the fourth quarter 2013 and ended 2013 with a backlog of $33.7 billion.
Outlook
The Company has provided its financial outlook for 2014. Charts containing additional information on the Company's 2014 outlook are available on the Company's website at www.raytheon.com/ir.
2014 Financial Outlook
2013 Actual
2014 Outlook
Net Sales ($B)
23.7
22.5 - 23.0
FAS/CAS Adjustment ($M)
(249)
346
Interest Expense, net ($M)
(198)
(200) - (210)
Diluted Shares (M)
324
312 - 314
Effective Tax Rate
29.3%
Approx. 28.5%
EPS from Continuing Operations
$5.96
$6.74 - $6.89
Adjusted EPS*
$6.38
$5.76 - $5.91
Operating Cash Flow from Continuing Operations ($B)
2.4
2.3 - 2.5
* Adjusted EPS is diluted EPS from continuing operations attributable to Raytheon Company common stockholders, excluding the after-tax impact of the FAS/CAS Adjustment and, from time to time, certain other items. See attachment F for a reconciliation of this measure and a discussion of why the Company is presenting this information.
Segment Results
The Company's reportable segments are: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); and Space and Airborne Systems (SAS).
Integrated Defense Systems
4th Quarter
Twelve Months
($ in millions)
2013
2012
% Change
2013
2012
% Change
Net Sales
$
1,569
$
1,730
-9%
$
6,489
$
6,492
—%
Operating Income
$
241
$
262
-8%
$
1,115
$
1,047
6%
Operating Margin
15.4%
15.1%
17.2%
16.1%
Integrated Defense Systems (IDS) had fourth quarter 2013 net sales of $1,569 million compared to $1,730 million in the fourth quarter 2012. The change in net sales was primarily due to an international Patriot program nearing completion and lower volume on a tactical radar program. IDS had full-year 2013 net sales of $6,489 million compared to $6,492 million in 2012.
IDS recorded $241 million of operating income compared to $262 million in the fourth quarter 2012. The change in operating income was primarily driven by lower volume. IDS recorded $1,115 million of operating income in 2013 compared to $1,047 million in 2012. The change in operating income for the full-year 2013 was primarily driven by international programs.
During the quarter, IDS booked $1,277 million on a ground based air defense system for Oman. IDS also booked $393 million for the Engineering and Manufacturing Development (EMD) phase of the Air and Missile Defense Radar (AMDR) and $75 million on the Zumwalt-class destroyer program for the U.S. Navy. In addition, IDS booked $173 million for the production of an AN/TPY-2 radar, $172 million to provide Consolidated Contractor Logistics Support (CCLS) and $122 million for a radar sustainment contract for the Missile Defense Agency (MDA).
Intelligence, Information and Services
4th Quarter
Twelve Months
($ in millions)
2013
2012
% Change
2013
2012
% Change
Net Sales
$
1,458
$
1,603
-9%
$
6,045
$
6,335
-5%
Operating Income
$
121
$
136
-11%
$
510
$
536
-5%
Operating Margin
8.3%
8.5%
8.4%
8.5%
Intelligence, Information and Services (IIS) had fourth quarter 2013 net sales of $1,458 million compared to $1,603 million in the fourth quarter 2012. The change in net sales was primarily due to lower volume on training and certain classified programs. IIS had full-year 2013 net sales of $6,045 million compared to $6,335 million in 2012. The change in net sales was primarily due to a National Science Foundation (NSF) Polar contract, which was completed in the first quarter 2012, and lower volume on training and classified programs.
IIS recorded $121 million of operating income compared to $136 million in the fourth quarter 2012. IIS recorded $510 million of operating income in 2013 compared to $536 million in 2012. The change in operating income for the full-year 2013 was primarily driven by lower volume.
During the quarter, IIS booked $585 million on a number of classified contracts, including $100 million for international cyber.
Missile Systems
4th Quarter
Twelve Months
($ in millions)
2013
2012
% Change
2013
2012
% Change
Net Sales
$
1,638
$
1,781
-8%
$
6,599
$
6,639
-1%
Operating Income
$
201
$
198
2%
$
830
$
861
-4%
Operating Margin
12.3%
11.1%
12.6%
13.0%
Missile Systems (MS) had fourth quarter 2013 net sales of $1,638 million compared to $1,781 million in the fourth quarter 2012. The change in net sales was primarily driven by lower sales on U.S. Army sensor programs. MS had full-year 2013 net sales of $6,599 million compared to $6,639 million in 2012. The change in net sales was primarily driven by lower sales on U.S. Army sensor programs, partially offset by higher sales on an international Paveway™ program and on an air warfare systems program.
MS recorded $201 million of operating income compared to $198 million in the fourth quarter 2012. MS recorded $830 million of operating income in 2013 compared to $861 million in 2012. The change in operating income for the full-year 2013 was primarily due to a change in contract mix.
During the quarter, MS booked $189 million for Evolved Sea Sparrow Missile (ESSM) and $177 million for Phalanx Weapon Systems for the U.S. Navy and international customers. MS also booked $172 million for Paveway™ for the U.S. Air Force and international customers and $81 million for the Joint Standoff Weapon (JSOW) for the U.S. Navy.
Space and Airborne Systems
4th Quarter
Twelve Months
($ in millions)
2013
2012
% Change
2013
2012
% Change
Net Sales
$
1,613
$
1,820
-11%
$
6,371
$
6,823
-7%
Operating Income
$
253
$
283
-11%
$
920
$
988
-7%
Operating Margin
15.7%
15.5%
14.4%
14.5%
Space and Airborne Systems (SAS) had fourth quarter 2013 net sales of $1,613 million compared to $1,820 million in the fourth quarter 2012. SAS had full-year 2013 net sales of $6,371 million compared to $6,823 million in 2012. The change in net sales for both the fourth quarter and full-year 2013 was primarily due to lower volume on intelligence, surveillance and reconnaissance systems programs and on classified programs.
SAS recorded $253 million of operating income compared to $283 million in the fourth quarter 2012. SAS recorded $920 million of operating income in 2013 compared to $988 million in 2012. The change in operating income for both the fourth quarter and full-year 2013 was primarily due to lower volume.
During the quarter, SAS booked $566 million on tactical airborne system upgrades for international customers, $134 million on the Global Aircrew Strategic Network Terminal (Global ASNT) program for the U.S. Air Force and $83 million on the Navy Multiband Terminal (NMT) program. SAS also booked $163 million on a number of classified contracts.
About Raytheon
Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @raytheon.
Conference Call on the Fourth Quarter and Full-Year 2013 Financial Results
Raytheon's financial results conference call will be held on Thursday, January 30, 2014 at 9 a.m. ET. Participants will include William H. Swanson, Chairman and CEO; Thomas A. Kennedy, executive vice president and COO; David C. Wajsgras, senior vice president and CFO; and other Company executives.
The dial-in number for the conference call will be (866) 953-6858 in the U.S. or (617) 399-3482 outside of the U.S. The conference call will also be audiocast on the Internet at www.raytheon.com/ir. Individuals may listen to the call and download charts that will be used during the call. These charts will be available for printing prior to the call.
Interested parties are encouraged to check the website ahead of time to ensure their computers are configured for the audio stream. Instructions for obtaining the free required downloadable software are posted on the site.
$ RTN. 2013 Earning wasnt that bad & the pp,s done good IMO. Looks like a all around solid Company. GO > $ RTN
$ RTN. Not alot of recent post going on but the Stock seems to be hold up very good IMO. GO > $ RTN
Raytheon to begin Phase 3 on DARPA Persistent Close Air Support program.
Tuesday 4 February 2014
TUCSON, Ariz., Feb. 4, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) is beginning Phase 3 of the Defense Advanced Research Projects Agency's Persistent Close Air Support (PCAS) program. DARPA has exercised its Phase 3 option with Raytheon, an 18-month, $25.5 million effort scheduled to culminate in a series of flight tests and live-fire demonstrations.
PCAS software could enable ground troops to receive close air support sooner by improving coordination among joint terminal attack controllers, airborne sensors and weapons. PCAS is designed to improve human-machine interfaces for both ground and air personnel by inserting autonomous algorithms in the decision chain, and digitally sending shared situational awareness messages.
Originally designed for the A-10 Thunderbolt, the program was expanded in 2013 to develop a platform- and sensor-agnostic electronics suite that could be easily integrated onto multiple platforms. The system is also designed to work with a variety of legacy radios to facilitate transition to multiple users.
"Our ground troops deserve the quickest response possible when close air support is needed," said Thomas R. Bussing, vice president of Raytheon Missile Systems' Advanced Missile Systems product line. "Raytheon's PCAS solution is designed to reduce the minutes it takes to deliver that critical support, and give warfighters the most effective protection possible."
Phase 3 was awarded in the third quarter of 2013. Raytheon is the systems integrator for PCAS and leads an industry team comprised of Rockwell Collins, General Electric, BAE Systems and 5-D Systems. Raytheon brings its expertise in overall systems integration, weapons, aircraft integration and unmanned aircraft system ground control stations to PCAS.
About Raytheon
Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.
DARPA Distribution Statement "A" (Approved for Public Release, Distribution Unlimited)
Media Contact
Tara Wood
+1.520.794.7715
rmspr@raytheon.com
GO > RTN
If the President ups the minimum wage for federal contractors I think it will definitely help RTN especially their RTSC division.
Any thought on 100+ by February Dividend February 2nd .55
Would love to see RTN at Boeing levels, but if it hits that high I was have to assume a split would be in order
$243,478,659 contract for procurement of 89 Standard Missile-6 Block I. Wow I am surprised this news did not get it over $80. Today ??? A Benji soon......RTN $$$
I think 84-86 dollars per share may be in the cards over the next 5-10 trading days. Just my opinion though. Got some calls :)
Nice bit of news. If Syria would have been green lighted RTN would be higher, just on wide public knowledge. The Contacts are solid and a hell of a product line. Looks like my $100 30 day target was off. Those who did $80 Calls should be O.K. RTN $$$$
Looking good here:)
You know what your doing...$$$$ RTN
Grabbed a few OCT 80 calls today at .44
Thanks for sharing.
Here you go, this paper gets it a little later then my DD and ear and eyes upon stars and full eagles, but I know you will see the value I know it has. RTN $$$$ $100+ $$$$
http://www.politico.com/story/2013/08/syria-strike-could-bring-raytheon-payday-96045.html
Picked up a few OCT Calls. Hope you are right lol.
RTN will be @ $100 in a month. The Middle East is going to go, I know for a fact RTN has been ORDERED to ramp up production in several areas for the military. All Defense Companies will rise while the Market will drop. A correction was in the cards anyway(Down 3,000 points??). Gold and Silver will double, Oil Futures will see exponential growth, squared. Try to move into hard, in your hands, mobile assets in two months, because after that ALL BETS ARE OFF
The U.S. Navy has awarded Raytheon a $106.4 million modification to a previously awarded contract for the production of Aegis-related equipment, including the AN/SPY-1(D)V radar transmitter and MK99 Mod 14 Fire Control System.
With this modification, Raytheon will continue its long history of reliable manufacturing of these two essential components, which are critical to Aegis’ air and missile defense capabilities.
The work will support DDG 116, the next planned ship of the Arleigh Burke-class of destroyers, as well as the Aegis Ashore missile defense system. Raytheon’s AN/SPY-1 radar transmitters and MK99 Fire Control System, both key elements of the Aegis system, have been in production for more than 30 years as part of the U.S. Navy’s Aegis shipbuilding program.
“Raytheon has partnered with the Navy for more than three decades on Aegis, and we look forward to supporting the next stage of the program,” said Denis Donohue, director of Above Water Sensors for Raytheon’s Integrated Defense Systems business. “As the world’s preeminent leader in naval radar technology, we are uniquely positioned to advance the legacy of Aegis and build upon its proven capabilities.”
Raytheon also provides performance-based logistics support, including spares and repairs, for Aegis weapons systems. In addition, the company manages system repairs in support of foreign military sales. The AN/SPY-1 and the MK99 are currently aboard the U.S. Navy’s fleet of cruisers and destroyers, as well as Japanese Kongo-class destroyers, Spanish F-100-class frigates, and South Korean KDX-111 King Sejong the Great-class destroyers. The AN/SPY-1 radar will also be deployed by the Royal Australian Navy’s future Air Warfare Destroyer. Raytheon Australia serves as the combat systems integrator for AWD.
http://www.aerotechnews.com/news/2012/04/17/raytheon-awarded-106-million-for-aegis-radar-work/
Raytheon gets Air Force deal to upgrade missiles
Raytheon gets Air Force deal to upgrade up to 450 air-to-ground Maverick missiles
Thursday April 2, 2009, 12:23 pm EDT
Buzz up! Print Related:Raytheon Co.
TUCSON, Ariz. (AP) -- Defense contractor Raytheon Co. got a contract from the Air Force to upgrade guidance and control parts of the service's air-to-ground Maverick missiles, the company said Thursday.
Related Quotes
Symbol Price Change
RTN 40.39 +0.96
{"s" : "rtn","k" : "c10,l10,p20,t10","o" : "","j" : ""} Terms of the deal were not disclosed.
The contract begins engineering efforts to restart the laser-guided Maverick production line and will incorporate new upgrades. Raytheon will upgrade up to 450 missiles for the Air Force and Navy.
The first upgraded guidance parts will be delivered to the Air Force within the next two years.
Shares of Waltham, Mass.-based Raytheon added 97 cents, or 2.5 percent, to $40.40 in afternoon trading.
Added a couple RTNHY @ $1.90
Information on oil Click here: #board-6609
Raytheon Co., of McKinney, Texas, is being awarded a firm fixed price contract not to exceed $11,471,959. This action will provide Multi-Sensor System (MTS-A) and Multi-Sensor System-B support at CONUS and OCONUS locations consisting of Depot OEM spares and repairs, depot configuration management, technical manual OEM system source data and software maintenance, depot level contractor Field Services Representative (FSR) support and other functions. At this time $9,962,675 has been obligated. 658th Aeronautical Systems Squadron, Wright-Patterson AFB, Ohio, is the contracting activity (FA8620-06-G-4041, DO 0007).
Raytheon Co., Integrated Defense Co., Andover, Mass., was awarded on Jun. 25, 2008, a $76,463,030.98 firm fixed price / cost-plus-fixed-fee, level of effort contract for upgrad of six (6) PATRIOT Rader Sets to Configuration 3 (Kuwait). Work will be performed at Andover, Mass., with an expected completion date of Jul. 31, 2013. One bid was solicited with one bid received. U.S. Army Aviation & Missile Command, Redstone Arsenal, Ala., is the contracting activity (W31P4Q-07-C-0151).
US Navy Conducts First Test of Raytheon's Standard Missile 6
WHITE SANDS, N.M., June 24, 2008 /PRNewswire/ -- The U.S. Navy successfully conducted the first test of the Standard Missile 6 extended range anti-air warfare missile produced by Raytheon Company (NYSE:RTN).
The missile, launched from the Navy's Desert Ship at the White Sands Missile Range, successfully intercepted a BQM-74 aerial drone using the newly developed SM-6 active seeker. The active seeker autonomously acquired and engaged the target using the Navy's legacy command system, resulting in a direct hit. This launch demonstrates the first successful integration of the Navy's active missile technology into the weapon system to provide for both near-term advanced anti-air warfare and future over-the-horizon capability.
Standard Missile 6 is being developed by Raytheon to meet the Navy's requirement for an extended range anti-air warfare missile. Expected to deploy in 2011, it provides capability against fixed and rotary wing aircraft and unmanned aerial vehicles and delivers a transformational over-the-horizon counter to the ever-evolving cruise missile threat. Employing the Standard Missile-2 Block IVA airframe and the newly developed active sensor, Standard Missile 6 will also have an inherent capability to fulfill the Navy's sea-based terminal ballistic missile defense requirement.
"Standard Missile 6 is the latest advance in Raytheon's ongoing commitment to the Navy and its allies," said Frank Wyatt, Raytheon Missile Systems' vice president of the Naval Weapons Systems product line. "This test proves that Raytheon is on track to deliver this solution to the Navy as scheduled."
Closed my CALLS way to early this morning..Market looked ugly at the start..Still have my Nov $75's
Information on oil Click here: #board-6609
Closed RTNGY @ $1.80
RTN raised to Overweight from Neutral by JP Morgan overnight..Hope that helps!
Grabbed some RTNGY July $57.50 CALLS @ $1.35
Information on oil Click here: #board-6609
Raytheon Awarded DARPA Contract to Increase System Information Assurance
TEWKSBURY, Mass., June 18, 2008 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a contract to evaluate the effectiveness of new technology for increasing system information assurance.
The technology, which defends against potential attacks carried out by the operators of systems, was developed for the Defense Advanced Research Projects Agency, or DARPA, by Teknowledge Corporation, Palo Alto, Calif.
Raytheon Integrated Defense Systems (IDS) is working with Teknowledge to evaluate the technology's potential by applying it to a multi-domain situational awareness system that Raytheon developed for defense and homeland security.
The effort was inspired by Raytheon's desire to advance the state of the art for detecting and blocking potential information compromises initiated by users who operate the nation's defense systems.
The technology interprets an operator's behavior in the context of the operator's role and the current state of the system. It determines whether the action would harm the system or compromise information and blocks potentially harmful operator action.
"Protecting defense systems from inadvertent or malicious operator actions is vitally important," said Mark Russell, vice president, IDS Engineering. "Threats from within may represent a vulnerability to these systems."
The contract will evaluate the effectiveness of the protective mechanism in a real operational environment, according to Tom Bracewell, Raytheon's program manager.
"We are evaluating the technology in actual applications and threat scenarios," Bracewell said. "It has the potential to become a common approach for insider threat mitigation in many defense programs."
Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.
Contact: Mike Nason 703.419.1421
DATASOURCE: Raytheon Company
CONTACT: Mike Nason, +1-703-419-1421
Web site: http://www.raytheon.com/
Raytheon Awarded $86.6 Million to Provide U.S. Army With Persistent Surveillance Capability
TEWKSBURY, Mass., June 12, 2008 /PRNewswire/ -- Raytheon Company (NYSE:RTN) has been awarded an $86.6 million contract to provide Rapid Aerostat Initial Deployment elevated sensor systems to the U.S. Army as part of the Base Expeditionary Targeting and Surveillance System program.
RAID provides persistent surveillance using infrared sensors elevated on a stationary platform. Raytheon first developed RAID to respond to the U.S. military's critical need for persistent surveillance in support of Operations Enduring Freedom and Iraqi Freedom.
"The high demand for the RAID system demonstrates its effectiveness in saving lives," said Pete Franklin, vice president, National & Theater Security Programs for Raytheon Integrated Defense Systems. "RAID continues to be one of the most valuable systems fielded today, and Raytheon is proud to be a partner with the U.S. Army in this critically important endeavor."
The RAID system is currently in wide use throughout Operations Enduring Freedom and Iraqi Freedom and will be an integral part of the BETSS effort.
Work will be performed at Raytheon IDS' Integrated Air Defense Center, Andover, Mass., and Warfighter Protection Center, Huntsville, Ala.
Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
Information on oil Click here: #board-6609
Raytheon Co., Tucson, Ariz., is being awarded a $59,502,180 contract for the production of 90 Block 1 MK-44 Mod 2 Rolling Airframe Missile (RAM) Guided Missile Round Pack All-Up-Rounds, and 60 ORDALT Kits. The RAM Guided Missile Weapon System is co-developed and co-produced under a NATO Cooperative Program between the United States’ and Federal Republic of Germany’s governments. RAM is a missile system designed to provide anti-ship missile defense for multiple ship platforms. Work will be performed in Tucson, Ariz., (49.7 percent), Ottobrunn, Germany, (42.7 percent), Rocket City, W.Va., (4.5 percent), and Andover, Mass., (3.1 percent) and is expected to be completed by May 2011. Contract funds will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington Navy Yard, D.C., is the contracting activity (N00024-08-C-5401).
Raytheon Co., Andover, Mass., was awarded on Jun. 10, 2008, a $22,041,039 cost-plus-fixed fee contract for rapid aerostat initial deployment III tower systems with base defense operations center. Work will be performed in Andover, Mass., and is expected to be completed by Jul. 31, 2008. Contract funds will not expire at the end of the current fiscal year. One bid was solicited on Jun. 26, 2007. U.S. Army Space & Missile Defense Command, Huntsville, Ala., is the contracting activity (W9113M-07-C-0002).
Information on oil Click here: #board-6609
Now your singing my song Frenchee!
Today's action suggests the 61.8% retracement level on the daily chart is going to hold for support. Good news for the longs...
Thanks Trek!
nice call OM!!! baaaaaammmm
RTN kickin some A$$$$$$$$$$$$$$$$$$$$$$
Right when they were saying it RTN was only up $.49..Jumped right on those Nov $75 CALLS @ $.35
Heard it on CNBC
OM where do you see that news?
Added a few RTNKO @ $.35 on that upgrade by C
C upgraded RTN with a target of $75 today
Thanks Frenchee
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Raytheon Co., Integrated Defense Co., Bedford, Mass., was awarded on May 30, 2008, a $12,056,853 cost-plus fixed fee contract for PATRIOT engineering services. Work will be performed in locations across the United States and is expected to be completed by Jan. 31, 2009. Contract funds will not expire at the end of the current fiscal year. One bid was solicited on Aug. 26, 2003. U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala., is the contracting activity (W31P4Q-04-C-0020).
Raytheon Missile Systems, Tucson, Ariz., was awarded on May 30, 2008, an $85,278,599 firm-fixed price contract for 155mm Excalibur block 1A-1 and 1A-2 projectiles. Work will be performed in locations across the United States, and Sweden, and is expected to be completed by Jan. 31, 2010. Contract funds will not expire at the end of the current fiscal year. One bid was solicited on Mar. 16, 2007. Joint Munitions and Lethality life Cycle Management Command, Picatinny Arsenal, N.J., is the contracting activity (W15QKN-07-C-0100).
Raytheon Co., of Tucson, Ariz., is being awarded a firm fixed price contract for $412,207,351. This action will provide 98 Advanced Medium Range Air-to-Air Missile AIM-120D All-Up-round Missiles, 11 AIM-120D Air Vehicles Instrumented (AAVIs), eight AIM-120D Integrated Test Vehicles (ITVs), 78 AIM-120D Captive Air Training Missiles, 213 AIM-120C7 foreign military sales AURs, five AIM-120C foreign military sales AAVIs, Warranty for 68 AIM-120D AURs (USAF), Warranty for 11 AAVIs USAF, Warranty for 78 CATMs 9USAF/USN), 269 Non-Developmental Item-Airborne Instrumentation Units, Spares (US/FMS), Test Equipment, Obsolescence to include Radome source replacement, Quad Target Detection Device parts replacements, Common Air Launched Navigation System second source. At this time all the funds have been obligated. 695ARSS, Eglin AFB, Fla., is the contracting activity (FA8675-08-C-0049).
More goodies for RTN!!
Raytheon Co., El Segundo, Calif., is being awarded a $51,596,296 modification to a previously awarded firm-fixed-price contract (N00019-06-C-0310) for the procurement of 19 Full Rate Production Lot 6 Advanced Targeting Forward Looking Infrared (ATFLIR) pods for the Governments of Australia (18) and Switzerland (1). In addition, this modification provides for long lead items for the Government of Switzerland, Units Under Test, and one Electro-Optical Sensory Unit for the U.S. Navy. This contract combines purchases for the U.S. Navy ($10,549,203; 20.4 percent and for Governments of Australia ($35,599,446; 69 percent) and Switzerland ($5,447,647; 10.6 percent) under the Foreign Military Sales Program. Work will be performed in El Segundo, Calif. (60 percent) and McKinney, Texas (40 percent), and work is expected to be completed in November 2010. Contract funds will not expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Md., is the contracting activity.
Raytheon Systems Company, McKinney, Texas, is being awarded a $29,703,440 modification to previously awarded contract (N00164-06-G-8555) for Multi-spectral Targeting Systems (MTS). The MTS units will be utilized on Navy MH-60 aircraft. The MTS is a forward looking infrared system for the Predators (Air Force), MH-60R and MH60S helicopters (Navy). The MTS provides real-time imagery selectable between infrared and day TV as well as a laser designation capability. Work will be performed in McKinney, Texas, and work is expected to be completed by March 2010. Contract funds will not expire at the end of the current fiscal year. The Crane Division, Naval Surface Warfare Center, Crane, Ind., is the contracting activity.
Raytheon Missile Systems Co., Tucson, Ariz., was awarded on May 22, 2008, a $10,250,000 firm-fixed price contract for griffin ammunitions. Work will be performed in Tucson, Ariz., and is expected to be completed by March 31, 2009. Contract funds will not expire at the end of the current fiscal year. One bid was solicited on Feb. 5, 2008. U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala., is the contracting activity (W31P4Q-08-C-0252).
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United Technologies and Raytheon Complete Merger of Equals Transaction- Creates the world's most advanced aerospace and defense systems provider- Serves customers worldwide through a platform-agnostic, diversified portfolio of industry-leading businesses- Expects to introduce breakthrough technologies at an accelerated pace across high-value areas of commercial aerospace and defensePR Newswire WALTHAM, Mass., April 3, 2020 WALTHAM, Mass., April 3, 2020 /PRNewswire/ -- Raytheon Technologies Corporation (NYSE: RTX) announced the successful completion of the all-stock merger of equals transaction between Raytheon Company and United Technologies Corporation on April 3, 2020, following the completion by United Technologies of its previously announced spin-offs of its Carrier and Otis businesses. Headquartered in Waltham, Mass., Raytheon Technologies is one of the largest aerospace and defense companies in the world with approximately $74 billion in pro forma 2019 net sales and a global team of 195,000 employees, including 60,000 engineers and scientists. Raytheon Company (NYSE:RTN) shares ceased trading prior to the market open on April 3, 2020, and each share of Raytheon common stock has been converted in the merger into the right to receive 2.3348 shares of United Technologies common stock (previously traded on the NYSE under the ticker symbol "UTX"). Upon closing of the merger, United Technologies' name has changed to "Raytheon Technologies Corporation," and its shares of common stock will begin trading today on the NYSE under the ticker symbol "RTX." United Technologies shareowners will continue to hold their shares of United Technologies common stock, which now constitute shares of common stock of Raytheon Technologies Corporation. Raytheon Technologies has a large, talented workforce to address the rapidly evolving needs of customers globally. The combined company expects to introduce breakthrough technologies at an accelerated pace across high-value areas such as hypersonics, directed energy, avionics and cybersecurity. In addition, Raytheon Technologies has a strong balance sheet and cash flows to support critical business initiatives, including company and customer-funded R&D. "Raytheon Technologies brings together two companies with combined strengths and capabilities that make us uniquely equipped to support our customers and partners during this unprecedented time. We will also play our part in the war on the COVID-19 pandemic, including doing everything we can to keep our employees around the globe safe and well," said Greg Hayes, CEO of Raytheon Technologies. "As we move forward, Raytheon Technologies will define the future of aerospace and defense through our focus on innovation, our world-class people and our financial and operational strength to create long-term value for our customers and shareowners." "Today, we introduce Raytheon Technologies as an innovation powerhouse that will deliver advanced technologies that push the boundaries of known science," said Tom Kennedy, Executive Chairman of Raytheon Technologies. "Our platform-agnostic, diversified portfolio brings together the best of commercial and military technology, enabling the creation of new opportunities across aerospace and defense for decades to come." Structure and Leadership
Raytheon Technologies' executive leadership team is comprised of Tom Kennedy, Executive Chairman, Greg Hayes, Chief Executive Officer, and Toby O'Brien, Chief Financial Officer. Additional leadership biographies are available on the company's website. Raytheon Technologies Investor Call About Raytheon Technologies
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