Raytheon [RTN] yesterday posted sharply lower net income in its third quarter due to higher taxes and lower operating income in its business segments, although results easily beat consensus estimates of financial analysts. Sales were also lower as Raytheon, like its competitors, deals with delays in the release of contract funds amid an uncertain fiscal environment and a continuing resolution to fund the FY '12 federal budget, delays in the award of international contracts, which is typical, and its own…
Higher Taxes, Lower Operating Income Send Raytheon’s Net Earnings Tumbling
Defense Daily Staff
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