Raytheon Q4 Profit Increases; Sees 2015 Adj. EPS Below View - Quick Facts

(RTTNews) - Raytheon Co. (RTN) reported that its net income attributable to the company for the fourth quarter 2014 increased to $582 million from the prior year's $531 million, with earnings per share improving to $1.88 from $1.66 in the same quarter last year.

Earnings per share from continuing operations rose to $1.86 from $1.46 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.80 per share. Analysts' estimates typically exclude special items.

Quarterly adjusted earnings per share was $1.71 up from $1.58 in the prior year.

The Company had bookings of $7.1 billion in the fourth quarter 2014, resulting in a book-to-bill ratio of 1.16.

Net sales for the fourth quarter were $6.14 billion, up approximately 5 percent from $5.87 billion in the fourth quarter 2013. Wall Street expected revenues of $6.07 billion for the quarter.

Looking ahead for 2015, the company expects adjusted earnings per share to be in the range of $5.49 - $5.64 and net sales of $22.3 billion - $22.8 billion. Wall Street currently is looking for fiscal year 2015 earnings of $6.89 per share on annual revenues of $22.57 billion.