Key Developments: Raytheon Co (RTN.N)
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Latest Key Developments (Source: Significant Developments)
Raytheon Co Wins Republic Of Korea F-16 Radar Upgrade Competition
Raytheon Co announced its Raytheon Advanced Combat Radar (RACR) has been competitively selected by the Republic of Korea to upgrade the country's KF-16C/D Block 52 Fighting Falcon fleet. Subject to final definition by the United States Government, Raytheon will deliver 134 active electronically scanned array radar systems with deliveries anticipated to start in late 2016. The scope includes AESA radar development, production of test assets for the system design and development program, and production. Full Article
Raytheon Co's Raytheon Anschuetz To Supply Integrated Bridge To Royal Navy Of Oman
Raytheon Anschuetz, indirect wholly-owned subsidiary of Raytheon Company announced that it was awarded a contract to provide the Company's Integrated Bridge and Navigation Systems for four Offshore Patrol Vessels for the Royal Navy of Oman. Under the contract, Raytheon Anschuetz will equip Oman's new Al-Ofouq-class Offshore Patrol Vessels with a complete, new-generation IBNS. Included in the scope of the program is comprehensive documentation and training for instructors, operators and maintenance support personnel. Full Article
Raytheon Co Receives $155.6 Million Rolling Airframe Missile Contract
Raytheon Co announced that it has awarded a $155.6 million contract to manufacture Block 2 Rolling Airframe Missiles for delivery to the German navy. It represents the single RAM award by Germany. The contract was awarded in Raytheon's first quarter of 2013. Full Article
Raytheon Co Announces Reorganizing, To Save $85 Million; To Cut 200 Jobs-Reuters
Reuters reported that Raytheon Co will pare its business units down to four starting on April 1 to boost productivity and lower costs, resulting in annual savings of about $85 million and the elimination of 200 jobs. The changes will not affect its financial outlook for 2013, which foresees a drop in earnings of up to 12%. Full Article
Raytheon Co Increases Dividend By 10%
Raytheon Co announced that its Board of Directors has voted to increase the company's annual dividend payout rate by 10%, from $2.00 to $2.20 per share. The Board also authorized payment of a quarterly cash dividend of $0.55 per outstanding share of common stock, to be paid on May 2, 2013, to shareholders of record as of the close of business on April 3, 2013. Payment of quarterly dividends is subject to Board authorization. Full Article
Raytheon Co Issues FY 2013 Guidance; EPS Guidance Above Analysts' Estimates
Raytheon Co announced that for fiscal 2013, it expects net sales to be in the range of 23.6 - 24.1 billion, EPS from continuing operations to be in the range of $5.16 - $5.31 and adjusted EPS to be in the range of $5.65 - $5.80. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $24.0 billion and EPS of $5.43 for fiscal 2013. Full Article
Raytheon Co Secures $12.3 Million Contract For HARM Upgrade
Raytheon Co announced that the U.S. Air Force has awarded the Company a $12.3 million contract to begin full rate production of High-Speed Anti-Radiation Missile (HARM) Control Section Modification (HCSM) upgrade units. Raytheon is scheduled to begin modification of existing HARMs early this year with delivery of HCSM units beginning in the fourth quarter of 2013. Raytheon has teamed with Honeywell, Rockwell Collins and others for the HCSM program. The contract was awarded in Raytheon's fourth quarter of 2012. Full Article
Raytheon Co Secures $158.6 million For Airborne Low Frequency Sonar
Raytheon Co announced that it is being awarded a $158,571,809 firm-fixed-price contract for the procurement of 48 MH-60R Full Rate Production Airborne Low Frequency Sonar (ALFS) systems, including associated program management support. This contract was announced by the Department of Defense on Dec. 20, 2012, and was awarded in Raytheon's fourth quarter. Full Article
Raytheon Co Secures $254.6 Million For Tomahawk Missile
Raytheon Co announced that the U.S. Navy awarded the Company $254.6 million contract to procure Tomahawk Block IV tactical cruise missiles for fiscal year 2013. The contract calls for Raytheon to build and deliver Tomahawk Block IV cruise missiles, conduct flight tests and provide life-cycle support. Production and delivery of the missiles is scheduled to begin in 2013. Full Article
Raytheon Co Secures $108 million Contract for SM-2 production
Raytheon Co announced that the U.S. Navy awarded the Company a $108 million contract for continued production of Standard Missile-2 all-up rounds, a majority of which will be sold to U.S. allies through foreign military sales. This award brings the total fiscal year 2011 contract value to more than $200 million. Full Article
Kerry visits Oman for arms deal, talks on Syria, Mideast
MUSCAT - Secretary of State John Kerry flew to Oman on Tuesday for Raytheon Co's signing of an estimated $2.1 billion arms deal and to consult on Syria and Iran, U.S. officials said.
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