Raytheon Reports Solid Third Quarter 2012 Results Raytheon Reports Solid Third Quarter 2012 Results
-- Strong bookings of $7.3 billion; book-to-bill of 1.21
-- Adjusted EPS(1) of $1.60, up 15 percent; EPS from continuing operations was $1.51, up 6 percent
-- Adjusted Operating Margin(1), of 13.8 percent, up 80 basis points; reported operating margin of 13.0 percent up 120 basis points
-- Net sales of $6.0 billion, down 1 percent
-- Strong operating cash flow from continuing operations of $1.1 billion
-- Increased full-year 2012 guidance for EPS
WALTHAM, Mass., Oct. 25, 2012 /PRNewswire/ -- Raytheon Company (NYSE: RTN) announced third quarter 2012 Adjusted EPS(1) of $1.60 per diluted share compared to $1.39 per diluted share in the third quarter 2011, up 15 percent. The increase was primarily driven by operational improvements and capital deployment actions. Third quarter 2012 EPS from continuing operations was $1.51 compared to $1.42 in the third quarter 2011. Third quarter 2012 included an unfavorable FAS/CAS Adjustment of $0.09, compared with an unfavorable FAS/CAS Adjustment of $0.14 in the third quarter 2011. Third quarter 2011 also included a $0.17 per diluted share favorable tax settlement.
"Raytheon's strong operating performance in the third quarter reflects our continued focus on reducing cost, and increasing productivity," said William H. Swanson, Raytheon's Chairman and CEO. "Our bookings in the quarter were strong, and we have significant opportunities in both domestic and international markets for our innovative technologies and affordable solutions."
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