Defense contractor Raytheon Co. said Thursday its second-quarter earnings rose 15 percent on higher profits from radars, satellite equipment, information technology and Army training programs. The company also raised its outlook for the year, AP reported. Raytheon said it earned $489 million, or $1.23 per share, in the April-June quarter, up from $426 million, or 99 cents per share, in the same quarter last year. Sales rose 4 percent to $6.13 billion from $5.87 billion a year ago. The results beat the profit predictions of analysts polled by Thomson Reuters, who expected $1.13 per share. But Raytheon's sales came in shy of the $6.18 billion consensus prediction. Raytheon also raised its outlook for 2009 by a nickel to a range of $4.60 to $4.75 per share. Wall Street foresees $4.73 per share in earnings. The Waltham, Massachusetts-based company said the higher forecast was based on expectations of a stronger second half on factors like growing international sales. «We are pleased with our performance and we are optimistic about our outlook,» David Wajsgras, Raytheon's chief financial officer, said in an interview. Raytheon is one of the nation's largest Pentagon suppliers of military electronics, making missiles, radars and equipment. Sales were higher in five of the company's six operating units. The integrated defense systems division, which does work on the Patriot missile defense system, saw sales rise 6 percent to $1.34 billion, though operating income was slightly lower as some big programs like work for the United Arab Emirates are still in early stages. Raytheon's unit that makes munitions like Tomahawk cruise missiles recorded a 2 percent sales growth to $1.38 billion, but profits also dipped due to higher award fees a year earlier. The biggest percentage sales gain _ 21 percent to $780 million _ was in the technical services unit that holds contracts including a training program for the U.S. Army.
