RHODE ISLAND & MASSACHUSETTS NEWS BRIEFS

Raytheon profits rise in second quarter

Posted 8/8/11

WALTHAM, Mass. – Profits rose at Raytheon Co. in the second quarter as the Massachusetts-based defense contractor rebounded from a canceled contract at its information-systems unit in 2010, The Boston Globe reported last week.

According to the newspaper, Raytheon’s information-systems unit second-quarter revenue grew 59 percent, to $472 million. Information systems and space and airborne systems were the only units that beat second quarter 2010 sales numbers.

Revenue for the company’s other units – including the Portsmouth-based integrated-defense systems – fell between 3.5 percent to 5.9 percent. The company is making attempts to grow its international sales as U.S. defense spending is expected to decline.

The Globe said the missile maker’s profit doubled in the second quarter to $438 million with earnings per share of $1.23, beating a $1.16 estimate from a pool of analysts surveyed by Bloomberg News. •

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