Raytheon Increases Full-year Guidance; Reports Strong Second Quarter 2008 (PR Newswire)

Thursday July 24, 7:00 am ET WALTHAM, Mass., July 24, 2008 /PRNewswire-FirstCall/ -- Highlights -- Sales of $5.9 billion, up 11 percent -- Operating income of $662 million, up 12 percent -- Earnings per share (EPS) from continuing operations of $1.00, up 27 percent -- Solid bookings of $6.0 billion; backlog of $37.5 billion -- Strong operating cash flow from continuing operations of $767 million -- Full-year guidance increased for sales, EPS, operating cash flow and ROIC Raytheon Company (NYSE: RTN - News ) reported second quarter 2008 income from continuing operations of $426 million or $1.00 per diluted share compared to $355 million or $0.79 per diluted share in the second quarter 2007. Second quarter 2008 income from continuing operations was higher primarily due to operational improvements and lower pension expense, as... [read full story]