WASHINGTON — Raytheon Co.’s Space and Airborne Systems division saw a 5 percent increase in third-quarter sales driven by an acquisition and work on various intelligence, surveillance and reconnaissance programs, the company reported Oct 27.
The El Segundo, Calif., division, which builds sensors for spacecraft, missiles and airborne platforms, recorded revenue of $1.3 billion during the quarter, compared with $1.24 billion during the same period last year. A portion of the increase was due to Raytheon Applied Signal Technology, which was acquired during the first quarter, the company said.
For the nine-month period ending Oct. 2, sales at the division were $3.9 billion, up from $3.5 billion during the same period in 2010.
Space and Airborne Systems booked $1.13 billion in new business during the quarter, including $468 million on multiple classified contracts, Waltham, Mass.-based Raytheon said in a press release and in an Oct. 27 filing with the U.S. Securities and Exchange Commission (SEC). Bookings for the first nine months of the year totaled $3.5 billion, up 18 percent from the same period in 2010, when the sector’s new business included $357 million on what the company described as a major classified space program, the SEC filing said.
Raytheon Intelligence and Information Systems of Garland, Texas, meanwhile, posted $760 million in third-quarter revenue, a 3 percent increase over the same period last year driven primarily by work on classified programs, the company said. For the first nine months of the year, sales were $2.26 billion, up 17 percent over the same period a year earlier.
New business bookings for the Intelligence and Information Systems division, a major provider of satellite ground systems, totaled $938 million during the quarter, compared with $703 million in the same period last year. These bookings included $163 million for the ground segment of the NASA-managed Joint Polar Satellite System and $313 million in classified business, according to the press release.
For the first nine months of the year, however, bookings were down substantially, at $2.5 billion, compared with $3 billion during the same period in 2010, according to the SEC filing. Raytheon attributed the difference to a number of major contracts landed during the first nine months of 2010 including $898 million to develop the next-generation GPS ground segment, known as GPS OCX, and $995 million on “a number of classified contracts, including $361 million on a major classified program,” the filing said.
Bookings during the first three quarters of 2011 included $349 million on the Joint Polar Satellite System, $807 million in classified contracts and $93 million on the GPS OCX program, Raytheon said.
Raytheon Missile Systems, whose major programs include the Standard Missile-3 (SM-3) interceptor and the Exoatmospheric Kill Vehicle that tops the interceptors protecting U.S. territory, reported revenue of $1.4 billion for the quarter, up 2 percent from the same period last year. In the SEC filing, Raytheon said the Tucson, Ariz.-based Missile Systems division experienced lower sales volume on the SM-3, at $44 million, due to reduced production rates.
For the nine months ending Oct. 2, revenue was $4.1 billion, representing a decrease from last year of less than 1 |percent.
Raytheon Missile Systems booked contracts worth $329 million for SM-3 development and $200 million for a “major classified program” during the third quarter. Bookings for the three-month period totaled $2.26 billion, up nearly 4 percent from the same period in 2010.
However, bookings for the first nine months of the year, at $4.47 billion, were down nearly 13 percent compared with the same period last year, the SEC filing said. The division’s bookings during the first three quarters of 2010 included $535 million on a classified program, $446 million for SM-3 development and $111 million for Exoatmospheric Kill Vehicle development, the SEC filing said.
The company booked $690 million for SM-3 production and development during the first nine months of 2011, the SEC filing said.
