WASHINGTON Jan 30 Raytheon Co Chief
Financial Officer Dave Wajsgras on Thursday said the low point
of U.S. military spending was likely from mid-2013 to mid-2014,
but international orders were expected to remain strong this
Wajsgras told Reuters Raytheon had expected to book a large
order from Kuwait for its Patriot missile defense system in the
fourth quarter, but the deal, valued at $500 million to $600
million, now looked likely to be finalized in February.
He said the company's adjusted operating margin in 2013 was
13.4 pct, the highest level seen since 2000, which reflected
ongoing efforts to cut costs by consolidating facilities and
other measures. He said margins would likely ease to 12.6-12.8
percent in 2014 as the company began work on several new
programs, which typically carry lower margins to start.