Raytheon Co .’s space sales were relatively flat for the fourth quarter of 2005. Raytheon’s Space and Airborne Systems division, based in El Segundo, Calif., brought in $1.15 billion in the fourth-quarter 2005, up slightly from $1.14 billion in the same period in 2004. The segment’s major bookings included F-15 radars for Singapore and $119 million for the production of Advanced Targeting Forward-Looking Infrared pods and spares for the U.S. Navy.
Net income for Waltham, Mass.-based Raytheon overall during the fourth-quarter 2005 was $276 million, up 11 percent from $245 million in fourth-quarter 2004.
Sales for the company were at a record high, according to Chief Executive Officer William Swanson. Raytheon’s sales for fourth-quarter 2005 were $6.2 billion, up 9 percent from $5.7 billion in fourth-quarter 2004. Sales in integrated defense, intelligence, missile defense and network centric systems all contributed to the high numbers, according to Swanson .
Swanson said he expected increased business for Raytheon’s Network Centric Systems, particularly given the goals outlined in the Department of Defense’s Quadrennial Defense Review, which was released Feb. 3.
“Some of the shifts we see are in really robust command and control,” Swanson said.
The company has managed to carve out a niche for itself in the homeland security market, which many defense contractors said has delivered much less than expected. In 2005 overall, by concentrating on the intelligence and information and perimeter security aspects of the market, Raytheon snared double-digit sales growth of about 27 percent, Swanson said, and expects to see similar numbers in 2006.
“The focus is paying off and we’re seeing some rewards there,” Swanson said.