Raytheon Co. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance of the Year 2013
For the full year, the company's net sales were $24,414 million, compared to $24,791 million a year ago. Operating cash flow from continuing operations was $1,951 million compared to $2,102 a year ago. The company generated strong operating cash flow from continuing operations for both 2012 and 2011, of $2.0 billion and $2.1 billion, respectively. Adjusted EPS of $6.21 per diluted share compared to $5.85 per diluted share a year ago. The increase was primarily driven by capital deployment actions and operational improvements. Full-year 2012 EPS from continuing operations was $5.65 compared to $5.22 for the full-year 2011. Operating income was $2,989 million against $2,830 million a year ago. Net income attributable to Raytheon Company was $1,888 million against $1,866 million a year ago. Income from continuing operations was $1,889 million against $1,848 million a year ago. Capital spending was $339 million against $340 million a year ago.
For the year 2013, the company expects net sales in the range of $23.6 to $24.1 billion. Effective tax rate of 30%. EPS from continuing operations to be in the range of $5.16 to $5.31. Adjusted EPS in the range of $5.65 to $5.80. Operating cash flow from continuing operations in the range of $2.0 to $2.2 million.