Key Developments: Raytheon Co (RTN)
66.24USD
22 May 2013
$-0.52 (-0.78%)
$66.76
$66.68
$67.44
$66.11
1,654,537
1,918,222
$67.44
$49.03
Latest Key Developments (Source: Significant Developments)
US Air Force Selects Raytheon Co's Transportable Air Traffic Radar System
Raytheon Co announced that the U.S. Air Force has awarded a contract to build rapidly deployable air traffic control (ATC) systems that can be delivered anywhere in the world and then be fully operational controlling flights within six hours. The contract, with a potential full value of $260 million, calls for one Engineering and Manufacturing Development unit plus production options for up to 18 Deployable Radar Approach Control (D-RAPCON) systems. The Air Force has authorized Raytheon $50.6 million for the early development stage. Ten of the units will be delivered to the Air National Guard, seven to the active-duty Air Force Space Command, one to the Air Force ATC school and one to the Air Force depot. Full Article
Raytheon Co Lowers FY 2013 Revenue Guidance; Narrows FY 2013 EPS Guidance To A Range In Line With Analysts' Estimates
Raytheon Co updated its outlook for fiscal 2013 to reflect first quarter 2013 results and its current expectations of the effects of sequestration under the Budget Control Act (BCA) of 2011. The Company expects net sales to be between $23.2-$23.7 billion compared to previous guidance of $23.6-$24.1 billion, EPS from Continuing Operations to be between $5.26-$5.41 compared to previous guidance $5.16-$5.31 and adjusted EPS to be between $5.75-$5.90 compared to previous guidance $5.65-$5.80. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $23.7 billion and EPS of $5.32 for fiscal 2013. Full Article
Raytheon Co Receives $81.7 Million Production Contract For Miniature Air Launched Decoy Jammer units
Raytheon Co announced that The U.S. Air Force has awarded the Company a firm-fixed-price $81.7 million option for Lot 6 on the Lot 5 contract for the production and delivery of 202 MALD-J jammers and containers. The contract also includes a 10-year warranty. Full Article
Raytheon Co Delivers Second Phalanx Block 1B For Australia's Air Warfare Destroyer
Raytheon Co announced that it has delivered the second Phalanx Block 1B Close-In Weapon System for installation on Australia's newest Air Warfare Destroyer, the Brisbane. A previously awarded direct commercial sale contract calls for a total of three Phalanx mounts to be delivered to the Royal Australian Navy. The first mount was delivered in late 2012 for installation aboard the Hobart. A third system is under construction and will be installed on the Sydney in 2014. Full Article
Raytheon Co Secures $35.9 Million DTRA Border Security Contract
Raytheon Co announced that it was awarded a Defense Threat Reduction Agency (DTRA) border security contract valued at $35.9 million. Under the nearly three-year base contract, Raytheon will design, develop and implement an integrated surveillance system along parts of the Jordanian border. Also, the contract requires Raytheon to provide training, maintenance and repair, as well as equipment. Full Article
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
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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