Raytheon posts profit, sees higher '10 earnings

ATLANTA (Reuters) - Defense contractor Raytheon Co (RTN.N) reported a higher quarterly profit on Thursday, aided by a lower share count and increased sales, and forecast higher earnings for 2010.

Raytheon, which makes sensors, radar systems and missiles, reported net income of $490 million, or $1.25 a diluted share, for the third quarter, compared with $427 million, or $1.00 a share, for the year earlier.

Analysts expected profit of $1.16 a share, according to Thomson Reuters I/B/E/S.

Revenue rose 6 percent to $6.2 billion, compared with $6.18 billion expected by analysts.

The company forecast 2010 profit of $4.75 to $4.90 a share, including impact from pension adjustments, and revenue of $25.9 billion to $26.4 billion. Analysts expect 2010 profit of $5.00 on revenue of $26 billion, according to Thomson Reuters I/B/E/S.

Raytheon boosted its profit forecast for this year, saying it now expects profit from continuing operations of $4.70 to $4.80 a share for 2009, compared with a prior view of $4.60 to $4.75 a share. Analysts expect $4.78 a share for 2009.

(Reporting by Karen Jacobs, editing by Maureen Bavdek)