Monthly Archives: July 2006

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Raytheon 2Q earnings

July 28, 2006 in Imported by Bob Hagen

Published: 07.28.2006


Gov’t spending propels income past estimates


By Ken Sweet


Arizona Daily Star

 


Raytheon Co. announced higher-than-expected earnings for second quarter 2006, citing higher government spending as the top reason for beating analyst and company estimates.

The company, parent of Tucson-based Raytheon Missile Systems, reported second-quarter operating income of $311 million, or 69 cents per diluted share, compared to last year’s $233 million, or 51 cents per diluted share.


Revenue increased 6 percent year-over-year to $5.7 billion from $5.4 billion, the company reported.


The company’s per-share earnings Thursday beat both company and analyst estimates by about 6 cents a share.


“We continue to be pleased with our operating performance and positive outlook for the remainder of 2006,” said William Swanson, Chairman and CEO of Raytheon in a news release.


The missile systems business unit reported an 11 percent increase in net sales to $1.11 billion, up from $1 billion in 2005. Operating income increased to $122 million from $104 million.


The company cited increased production of the Standard Missile and development of products such as the Standard Missile-3 as reasons for the sales growth.


Several major contracts with the missile systems unit were signed during the quarter, including a $208 million classified project and $144 million for a small-diameter bomb, the company reported.


For the year, Waltham, Mass.-based Raytheon increased its 2006 profit forecast to $2.60 to $2.70 a share, up from $2.55 to $2.65.


While reporting its earnings, Raytheon announced plans to explore the possible sale or spin-off of its aircraft unit, Raytheon Aircraft Company.


Raytheon Aircraft manufactures small corporate jets and is based in Wichita, Kan. No manufacturing is done in Tucson.


Raytheon shares were down 81 cents a share, or 1.76 percent, Thursday to close at $45.15.

Contact reporter Ken Sweet at 434-4083, or e-mail at ksweet@azstarnet.com

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by Bob Hagen

UA Prop. 301

July 24, 2006 in Imported by Bob Hagen


Published: 07.24.2006


UA says Prop. 301 a boon to research, creativity


By Eric Swedlund


 ARIZONA DAILY STAR


In the first five years of a voter-approved education tax, University of Arizona officials say the $112 million cash infusion has strengthened and transformed vital research like optics and bioscience and has made possible crucial technological improvements campuswide.


Since Arizona voters approved Proposition 301, a 0.6 percent increase in the state sales tax for education, the UA has used the revenue to hire or retain dozens of key researchers, double its supercomputing power, boost the Technology Transfer Office and fund new lab facilities for world-class programs.


Universities receive 10 percent of the 301 money, with a mandate to fund research and technology development, to expand online and distance education, and to prepare students for a high-tech economy. The Arizona Board of Regents administers the tax revenues through the Technology and Research Initiative Fund, or TRIF. The UA has budgeted for an expected $118.9 million over the next five years.



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