Raytheon Company (NYSE: RTN) announced first quarter 2015 EPS from continuing operations of $1.78 compared to $1.87 in the first quarter 2014. First quarter 2015 Adjusted EPS was $1.26 per diluted share compared to $1.43 per diluted share in the first quarter 2014. First quarter 2015 Adjusted EPS excluded a $0.42 favorable impact for the previously announced eBorders settlement with the U.K. Home Office and a favorable FAS/CAS Adjustment of $0.10. First quarter 2014 Adjusted EPS excluded a $0.25 favorable tax impact from cash repatriation in the first quarter 2014 and a favorable FAS/CAS Adjustment of $0.18.
“Raytheon’s solid first quarter financial performance is a testament to the strength of our operating model. Our sales, earnings and cash flow were in line or ahead of our expectations,” said Thomas A. Kennedy, Raytheon Chairman and CEO. “We continue to position the company for the future by successfully executing our global growth strategy and investing in key discriminating technologies.”
Net sales for the first quarter 2015 were $5.3 billion compared to $5.5 billion in the first quarter 2014.
Operating cash flow from continuing operations for the first quarter 2015 was $55 million compared to $659 million for the first quarter 2014. The change in operating cash flow from continuing operations in the first quarter 2015 was primarily due to the timing of collections.
– Access the full financial statements on Ratheon’s website.
