WASHINGTON Jan 24 U.S. arms maker Raytheon Co
on Thursday forecast a drop of up to 9 percent in
adjusted earnings per share this year as it reported that
fourth-quarter earnings per share fell 7 percent on nearly
Additional U.S. budget cuts could have a big impact on the
U.S. military and the defense industry next year, but Raytheon
said its international sales and focus on high-priority areas
should help mitigate the effect.
Raytheon, which makes Patriot missiles and a vast array of
other defense equipment, said adjusted earnings per share were
$1.60 in the fourth quarter, down from $1.72 per share in the
same quarter of 2011.
In the full year, adjusted EPS rose 6.2 percent to $6.21
from $5.85 in 2011, driven higher mainly by buybacks of 15.9
million shares for $825 million, the company said in its fourth-
quarter earnings release.