Raytheon profit rises 9 percent as forecast falls short of estimate
Raytheon Co., the world’s largest missile maker, said fourth-quarter profit rose 9.4 percent aided by improved performance at its missile and space units. The company’s forecast for this year fell short of analyst estimates. Net income from continuing operations increased to $546 million, or $1.58 a share, compared with $499 million, or $1.37 a share, a year earlier, Raytheon said today in a statement. Excluding certain items, profit was $1.74 a share, exceeding the $1.34-a-share average estimate of 21 analysts surveyed by Bloomberg. Sales declined 6.4 percent to $6.44 billion.