- Raytheon reported strong second quarter 2007 results with EPS from continuing operations up 30% and sales up 9%.
- They completed the sale of Raytheon Aircraft Company, resulting in $2.4 billion in after-tax proceeds.
- For the full year, Raytheon increased guidance for EPS, bookings, and return on invested capital.
- Segment results were positive with Integrated Defense Systems sales up 12% and operating income up 20% compared to the second quarter of 2006.
Raytheon reported financial results for Q4 2005 and full year 2005. Key highlights included 9% revenue growth in Q4 and 8% for the full year. Free cash flow was $1 billion for Q4 and $2.1 billion for the full year. Raytheon also provided financial guidance for 2006, forecasting revenue between $23.1-23.6 billion and GAAP EPS between $2.45-2.55. The company expects continued growth in bookings and backlog while further reducing debt levels.
1) In Q4 2007, the company repurchased 4.8 million shares for $222 million, and a total of 12.4 million shares in 2007 for $591 million. They also repurchased an additional 1 million shares in early 2008 for $40 million.
2) In Q4 2007, the company completed two acquisitions for a total of $97.1 million and seven acquisitions in 2007 for a total of $273.6 million. They also finalized the sale of six businesses in 2007 resulting in an after-tax loss of $17.1 million.
3) Organic revenue growth was 2.3% for 2007, with acquisitions contributing 9.7
YRC Worldwide Inc. announced its second quarter 2007 earnings. Reported EPS was $0.95 compared to $1.58 in 2006. Revenue was $2.5 billion compared to $2.6 billion last year. National Transportation performed strongly with an operating ratio of 94.6%. However, overall results were impacted by a weak shipping market. For the full year, the company expects interest expense of $90 million, a tax rate of 36.9%, and free cash flow over $200 million.
Raytheon reported second quarter 2007 earnings. Key highlights include:
- EPS from continuing operations of $0.79, up 30% from the previous year.
- Net sales of $5.4 billion, up 9% from the previous year.
- Bookings of $5.0 billion and backlog of $33.3 billion.
- The company increased its full-year 2007 guidance for EPS, bookings, and return on invested capital.
This document summarizes Duke Energy's financial results for the fourth quarter and full year 2006. Some key points:
- 2006 ongoing EPS was $1.81, up from $1.73 in 2005, due to contributions from the Cinergy merger and tax benefits, offset by new shares issued.
- 4Q 2006 ongoing EPS was flat at $0.43 compared to 4Q 2005. Gains were offset by impacts of selling 50% of Crescent and lower Crescent earnings.
- Franchised Electric & Gas and Natural Gas Transmission saw higher earnings due to the Cinergy merger and tax benefits. Field Services, Commercial Power, and International Energy saw lower earnings.
-
This document provides a summary of Fannie Mae's 2007 10-K investor report. It includes tables showing Fannie Mae's consolidated financial results for 2007 compared to 2006. Net interest income, guaranty fee income, and other revenue were down in 2007 from the prior year due to the severe housing crisis. Fannie Mae reported a net loss in 2007 driven by credit-related expenses from losses on mortgages and mortgage-backed securities. While facing significant challenges from the troubled housing market, Fannie Mae met its obligations under a consent agreement with regulators and remained focused on protecting its capital position.
Dover Corporation reported record results for the second quarter of 2007, with earnings from continuing operations of $175.1 million (up 10% from 2006), revenue of $1.859 billion (up 12% from 2006), and record backlog of $1.6 billion. For the six months ended June 30, 2007, earnings from continuing operations were $314 million (up 8% from 2006) and revenue was $3.639 billion (up 15% from 2006). The company expects a record third quarter with moderate organic growth and contributions from acquisitions.
Raytheon reported strong financial results for the first quarter of 2008. Sales increased 11% to $5.4 billion compared to the first quarter of 2007, driven by growth across all business segments. Operating income rose 17% to $608 million due to increased volume and lower expenses. Earnings per share from continuing operations increased 31% to $0.93. The company also achieved record backlog of $37.7 billion and solid bookings of $6.5 billion during the quarter. Raytheon reaffirmed its full-year 2008 guidance and expects continued growth.
Danaher Corporation announced record first quarter results for 2006, with net earnings of $216 million, a 15% increase from 2005. Total sales increased 17.5% to $2.14 billion due to 12.5% growth from acquisitions and 7.5% core revenue growth. Operating cash flow was also up 8% from the previous record set in 2005. The company's CEO stated that the broad-based strength across businesses reinforces confidence in delivering positive results for the rest of 2006.
Services - GMAC Annual and Fourth Quarter Earnings finance8
GMAC reported full year net income of $2.1 billion in 2006, down from $2.3 billion in 2005. The residential mortgage market experienced a slowdown due to declining home prices and weakness in nonprime credit. Auto finance results were stable despite one-time costs. Insurance reported record earnings through robust underwriting. ResCap results were negatively impacted by $839 million due to homebuilder equity sales and nonprime mortgage market deterioration.
Clear Channel Communications reported financial results for the second quarter of 2002 with revenues of $2.17 billion, EBITDA of $627 million, and free cash flow of $365 million. Radio revenues increased 5% to $991 million and EBITDA increased 9% to $441 million. Outdoor revenues were $474 million and EBITDA was $145 million. Entertainment revenues declined 11% to $619 million and EBITDA declined 8% to $52 million. The company expects third quarter 2002 EBITDA to be between $570-585 million and full year EBITDA to be $2.05-$2.10 billion.
This document summarizes Raytheon's financial results for the fourth quarter and full year of 2008. Key points include: Raytheon reported solid financial results for Q4 and full year 2008, with record backlog of $38.9 billion; Q4 sales were $6.1 billion and adjusted EPS was $1.13; Full year sales grew 9% to $23.2 billion and adjusted EPS grew 23% to $4.06; Raytheon reaffirmed its financial guidance for 2009 and expects continued growth.
Raytheon reported financial results for Q4 2005 and full year 2005. Key highlights included 9% revenue growth in Q4 and 8% for the full year. Free cash flow was $1 billion for Q4 and $2.1 billion for the full year. Raytheon also provided financial guidance for 2006, forecasting revenue between $23.1-23.6 billion and GAAP EPS between $2.45-2.55. The company expects continued growth in bookings and backlog while further reducing debt levels.
1) In Q4 2007, the company repurchased 4.8 million shares for $222 million, and a total of 12.4 million shares in 2007 for $591 million. They also repurchased an additional 1 million shares in early 2008 for $40 million.
2) In Q4 2007, the company completed two acquisitions for a total of $97.1 million and seven acquisitions in 2007 for a total of $273.6 million. They also finalized the sale of six businesses in 2007 resulting in an after-tax loss of $17.1 million.
3) Organic revenue growth was 2.3% for 2007, with acquisitions contributing 9.7
YRC Worldwide Inc. announced its second quarter 2007 earnings. Reported EPS was $0.95 compared to $1.58 in 2006. Revenue was $2.5 billion compared to $2.6 billion last year. National Transportation performed strongly with an operating ratio of 94.6%. However, overall results were impacted by a weak shipping market. For the full year, the company expects interest expense of $90 million, a tax rate of 36.9%, and free cash flow over $200 million.
Raytheon Reports 2007 Second Quarter Resultsfinance12
Raytheon reported second quarter 2007 earnings. Key highlights include:
- EPS from continuing operations of $0.79, up 30% from the previous year.
- Net sales of $5.4 billion, up 9% from the previous year.
- Bookings of $5.0 billion and backlog of $33.3 billion.
- The company increased its full-year 2007 guidance for EPS, bookings, and return on invested capital.
This document summarizes Duke Energy's financial results for the fourth quarter and full year 2006. Some key points:
- 2006 ongoing EPS was $1.81, up from $1.73 in 2005, due to contributions from the Cinergy merger and tax benefits, offset by new shares issued.
- 4Q 2006 ongoing EPS was flat at $0.43 compared to 4Q 2005. Gains were offset by impacts of selling 50% of Crescent and lower Crescent earnings.
- Franchised Electric & Gas and Natural Gas Transmission saw higher earnings due to the Cinergy merger and tax benefits. Field Services, Commercial Power, and International Energy saw lower earnings.
-
This document provides a summary of Fannie Mae's 2007 10-K investor report. It includes tables showing Fannie Mae's consolidated financial results for 2007 compared to 2006. Net interest income, guaranty fee income, and other revenue were down in 2007 from the prior year due to the severe housing crisis. Fannie Mae reported a net loss in 2007 driven by credit-related expenses from losses on mortgages and mortgage-backed securities. While facing significant challenges from the troubled housing market, Fannie Mae met its obligations under a consent agreement with regulators and remained focused on protecting its capital position.
Dover Corporation reported record results for the second quarter of 2007, with earnings from continuing operations of $175.1 million (up 10% from 2006), revenue of $1.859 billion (up 12% from 2006), and record backlog of $1.6 billion. For the six months ended June 30, 2007, earnings from continuing operations were $314 million (up 8% from 2006) and revenue was $3.639 billion (up 15% from 2006). The company expects a record third quarter with moderate organic growth and contributions from acquisitions.
Raytheon reported strong financial results for the first quarter of 2008. Sales increased 11% to $5.4 billion compared to the first quarter of 2007, driven by growth across all business segments. Operating income rose 17% to $608 million due to increased volume and lower expenses. Earnings per share from continuing operations increased 31% to $0.93. The company also achieved record backlog of $37.7 billion and solid bookings of $6.5 billion during the quarter. Raytheon reaffirmed its full-year 2008 guidance and expects continued growth.
Danaher Corporation announced record first quarter results for 2006, with net earnings of $216 million, a 15% increase from 2005. Total sales increased 17.5% to $2.14 billion due to 12.5% growth from acquisitions and 7.5% core revenue growth. Operating cash flow was also up 8% from the previous record set in 2005. The company's CEO stated that the broad-based strength across businesses reinforces confidence in delivering positive results for the rest of 2006.
allstate Quarterly Investor Information Earnings Press Release 2003 3rd finance7
Allstate reported strong financial results for the third quarter of 2003, with net income increasing 177% compared to the third quarter of 2002. Operating income also increased, driven by higher underwriting income in Property-Liability from increased premiums earned and favorable loss trends, partially offset by higher catastrophe losses. Premiums and deposits for Allstate Financial reached a record level. The company increased its guidance for full-year 2003 operating income per share.
Spectra Energy reported second quarter 2007 net income of $196 million, down from $320 million in the second quarter of 2006. Ongoing net income, which excludes special items, was $192 million compared to $264 million in the prior year. Earnings were lower due to decreased results in the Western Canada Transmission & Processing and Field Services segments, which faced planned maintenance and power outages. However, the company remains on track to achieve its 2007 financial goals due to strong ongoing operations and continued progress on its $3 billion capital expansion program.
Raytheon Reports 2007 Third Quarter Resultsfinance12
Third Quarter Earnings
- Raytheon reported third quarter earnings for 2007 on October 25th
- Earnings call information and copyright details are provided
- Key highlights include strong bookings of $6.5B, backlog of $33.9B, and net sales up 8% to $5.4B
Raytheon Reports 2004 First Quarter Resultsfinance12
Raytheon reported first quarter earnings for 2004. Revenue increased 11% year-over-year to $4.676 billion, driven by double-digit growth at IDS, IIS, and SAS. Operating income increased 9% to $372 million excluding pension adjustments. Strong bookings resulted in a record backlog of $31.2 billion. The company reiterated its full-year guidance for revenue over $20 billion, GAAP EPS from continuing operations of $1.30-1.40, and free cash flow over $1 billion.
- CCR reported financial results for the fourth quarter and full year of 2012, with net revenue growth of 15.2% and 13.5% respectively compared to the same periods of 2011.
- Adjusted EBITDA increased 12.0% in 4Q12 versus 4Q11, reaching R$881.8 million, despite a contraction in the EBITDA margin. For the full year, adjusted EBITDA grew 11.5%.
- Net income increased 17.9% in 4Q12 and 30.9% for the full year 2012 due to higher cash generation and lower financial expenses despite a temporary increase in leverage ratios from new business additions.
The document discusses Manpower's performance and strategies during a period of economic uncertainty in 2002. It summarizes that Manpower strengthened its financial position, improved efficiency, expanded services, and increased customer relationships despite challenging market conditions. Manpower emerged stronger and confident in its leadership position. The speed of work increased pressure on companies, but Manpower provided flexibility and quality service to help customers.
Two friends got into an argument while walking through the desert, and one friend slapped the other. The friend who was slapped wrote in the sand "Today my best friend slapped me in the face." Later, the same friend saved the other from drowning, and the saved friend wrote on a stone "Today my best friend saved my life." When asked about the different mediums, the saved friend responded that hurts should be written in sand to be erased, but good deeds should be engraved in stone to last forever.
Codemash - Building Custom node.js ModulesKevin Griffin
Kevin Griffin presents on building node.js modules. He discusses what modules are and why they are useful. There are three types of modules: those installed via a package manager like npm, files imported with require, and folders imported with require. The presentation demonstrates how to set up a user account on npmjs.org and publish a module to npm.
This document summarizes a workshop on monitoring vernal pools held at Wildwood Preserve MetroPark on March 14, 2009. The workshop included presentations on identifying and monitoring invertebrates in vernal pools, protecting Blanding's turtles and other species that use vernal pools, and information on OEC's vernal pool program. The workshop concluded with a field trip to observe vernal pools.
- Goodyear reported record second quarter sales of $5.2 billion, up 6.5% from the previous year, driven by strong growth in international businesses.
- International segment operating income increased significantly year-over-year, with all three international business units achieving record results.
- Net income from continuing operations was $75 million compared to $29 million in the previous year, though costs related to plant closures impacted results.
- Goodyear remains focused on managing through challenging market conditions while making investments to capitalize on future growth opportunities.
Personalizing and Targeting Web Content for Customer Experience Management rivetlogic
The document discusses personalizing and targeting web content for customer experience management. It describes Rivet Logic Corporation and its award-winning services focused on web experience management, enterprise content management, and collaboration/social communities using open source software. It then discusses the Crafter platform for authoring, previewing, publishing, analytics integration, mobile/social support, localization and dynamic content delivery. The remainder of the document focuses on personalization and content targeting based on common, customer, and partner content as well as using rules engines, profiles, locations, activities and social graphs to understand users and provide relevant content.
The document provides information about the Institute for Professional Excellence in Coaching (iPEC) and their accredited coach training program. It introduces some of the key concepts from their Core Energy Coaching process, including energetic capacity, engagement, and total engaged energy. It describes the seven levels of core energy and how understanding a person's energetic profile can provide insights into their behavior, attitudes, and potential for success.
This document provides a long list of websites and resources for global education projects and ideas. Some of the resources listed include websites for global networking like TakingItGlobal.org and IEARN.org, as well as resources on specific project ideas like Flat Stanley, Jason Science, and global issues documentary projects. The document encourages using these resources to identify issues, tell stories, determine ways to help, and create business plans to present solutions. It concludes by thanking the reader and providing contact information.
Twitter 201: Adding Twitter to Your Strategic PR ToolboxBurrelles Luce
The document summarizes a webinar on using Twitter for PR and media relations strategies. It provides an agenda for the webinar that includes discussing personal branding vs company branding, using Twitter for media relations, public relations, and measurement. It also gives tips on Twitter etiquette and engaging journalists, as well as tools for analytics and engagement.
Global, Social & Valuable: A Framework for Connected Business - Gary Stein - ...iCrossing
"Global, Social & Valuable: A Framework for Connected Business" as presented by Gary Stein, SVP, Strategy and Planning for iCrossing on Dec 6, 2011 at the Seminarium Social Media Forum 2011 in Lima, Peru.
The document provides an agenda and materials for an event on air quality and health. The agenda includes sessions on how air quality impacts the environment, the federal government's role, and actions individuals can take to reduce pollution. The sessions will discuss how ozone pollution and particulate matter harm crops, forests, wildlife, and the climate. They will also suggest ways for individuals to help through reducing electricity use, transportation choices, advocacy, and more. Presenters will discuss these topics from the Ohio Environmental Council and American Lung Association.
This document provides an introduction to metadata, including what it is, its purposes, and types. Metadata is data that describes other data, such as author, title, and subject for a document. It helps identify, manage, retrieve, and connect related content. There are three main types - descriptive, structural, and administrative. Metadata standards like Dublin Core and taxonomies help ensure consistency and enable interoperability across collections. High quality metadata requires careful planning, structure, and maintenance.
In 2012, the Ohio Environmental Council:
1. Successfully advocated for a moratorium on horizontal fracking until risks are reviewed and secured greater protection of drinking water sources.
2. Secured the first-ever controls on water withdrawals from Lake Erie and its tributaries.
3. Repelled attacks on Ohio's renewable energy and energy efficiency standards, which are reducing air pollution and growing clean energy jobs.
Raytheon reported strong financial results for the third quarter of 2008, with sales up 12% and earnings per share up 17%. The company increased its full-year earnings guidance and announced a new $2 billion share repurchase plan. All of Raytheon's business segments experienced sales growth in the quarter.
This document summarizes Pfizer's fourth quarter 2007 earnings teleconference. It reports that Pfizer exceeded its 2007 revenue and EPS guidance. Key highlights included:
- Revenue increased 4% year-over-year in Q4 2007 and 1% for full year 2007. Adjusted diluted EPS increased 21% in Q4 2007 and 7% for full year.
- New products like Chantix, Lyrica and Sutent grew substantially and partially offset declines from products that lost exclusivity.
- 2008 guidance was increased, with revenue range increased and bottom end of EPS guidance also increased.
- Cost reduction initiatives continued to reduce expenses, with further savings expected in 2008.
Raytheon reported strong financial results for the second quarter of 2006, with earnings per share up 35% and sales up 6%. The company increased its full-year guidance for earnings per share, operating cash flow, and return on invested capital. Raytheon also announced its intention to explore strategic alternatives for its Raytheon Aircraft Company business unit, including a potential sale. Segment results were positive across most business units, with higher sales, bookings, and operating income compared to the second quarter of 2005.
Caterpillar Financial Services Corporation (Cat Financial) reported record quarterly revenues of $747 million, up 11% from the same quarter in 2006. Quarterly profit after tax was also a record at $123 million, increasing 16% over 2006. New retail financing reached a record of $3.65 billion, growing 14% compared to the previous year. For the six months ending June 30, 2007, revenues were up 10% to $1.46 billion while profit after tax increased 11% to $248 million, with new retail financing expanding 10% to $6.397 billion.
The document is Burlington Northern Santa Fe Corporation's second quarter 2007 investors' report. It summarizes that freight revenues increased 4% to $3.74 billion compared to second quarter 2006, but operating income decreased slightly to $841 million due to a $93 million rise in fuel expenses. Earnings per share were $1.20 compared to $1.27 in second quarter 2006. The report also provides details on financial results, operating statistics, and revenues by commodity for the quarter.
The Blackstone Group reported financial results for Q2 2010 with increases in key metrics compared to Q2 2009. Economic Net Income rose 28% to $205 million, driven by higher investment income and fees. Fee-earning assets under management grew 8% to $101.4 billion. While performance fees declined, base management fees and restructuring advisory work increased revenues. Blackstone declared a $0.10 quarterly distribution per unit.
Pfizer Quarterly Corporate Performance - Third Quarter 2007finance5
The document summarizes Pfizer's third quarter 2007 earnings teleconference. It discusses financial results including revenues of $11.99 billion, net income of $761 million, and adjusted diluted EPS of $0.58. It also notes charges of $2.8 billion related to exiting the Exubera product. Finally, it reaffirms Pfizer's financial guidance for 2007 and 2008 and highlights strong performance of new products like Chantix, Lyrica and Sutent.
Raytheon reported second quarter 2008 earnings on July 24, 2008. Key highlights included:
- Sales increased 11% to $5.9 billion
- Operating income grew 12% to $662 million
- Earnings per share increased 27% to $1.00
- Bookings totaled $6.0 billion with backlog at $37.5 billion
- Guidance for full year 2008 was increased across key metrics
Raytheon Reports 2008 Second Quarter Resultsfinance12
Raytheon reported second quarter 2008 earnings on July 24, 2008. Key highlights included:
- Sales increased 11% to $5.9 billion
- Operating income grew 12% to $662 million
- Earnings per share increased 27% to $1.00
- Bookings totaled $6.0 billion with backlog at $37.5 billion
- Guidance for full year 2008 was increased across key metrics
The document summarizes Pfizer's second quarter 2008 earnings teleconference. Key highlights include:
- Revenues increased 9% year-over-year to $12.1 billion, and net income increased 119% to $2.8 billion. Adjusted diluted EPS grew 31% to $0.55.
- Cost-reduction initiatives have achieved $1.2 billion in savings to date against a target of $1.5-2 billion for 2008.
- Several major products performed well including Lipitor, Lyrica, Celebrex, and Viagra. Sutent and Chantix revenue also grew.
- Guidance for 2008 was reaffirmed for revenue of $
Pfizer Quarterly Corporate Performance - Second Quarter 2008finance5
This document summarizes Pfizer's second quarter 2008 earnings teleconference. It provides financial details such as a 9% increase in reported revenues and a 119% increase in reported net income compared to the previous year. Adjusted income increased 26% and adjusted diluted EPS grew 31%. Cost-reduction initiatives declined due to lower workforce costs. Several drugs were highlighted as top sellers, such as Lipitor, Lyrica, and Celebrex. Pfizer is on track to achieve its target of reducing costs by $1.5-2 billion through cost-cutting initiatives.
The document is a news release announcing U.S. Bancorp's financial results for the second quarter of 2007. It reported net income of $1,156 million, down slightly from the same period last year. Key highlights included strong growth in fee-based revenue from payment services and wealth management, though this was offset by lower net interest income and higher credit costs. Expenses also increased as the company continued investing in business initiatives. Credit quality remained solid as nonperforming assets declined from the previous quarter.
Pfizer Quarterly Corporate Performance - Third Quarter 2008finance5
This document summarizes Pfizer's third quarter 2008 earnings teleconference. It discusses Pfizer's financial results for the third quarter and year-to-date, including adjusted revenues increasing 2% for both periods. It also reviews significant items that impacted results, progress on Pfizer's cost reduction target, and select product highlights for the quarter.
In the third quarter 2008 earnings teleconference, Pfizer reported increased revenues and earnings compared to the previous year. Adjusted revenues increased 2% to $12.2 billion while adjusted income and EPS grew 5% and 7% respectively. Key products such as Lyrica, Celebrex and Viagra performed well. Pfizer also exceeded its cost reduction target, achieving $1.7 billion in savings through the third quarter with a goal of $2 billion for 2008 versus 2006. Pfizer narrowed its full-year revenue and EPS guidance ranges.
Cat Financial reported record revenues of $2.998 billion for 2007, up 9% from 2006. Profits were also up, with profit after tax reaching a record $494 million, a 4% increase over 2006. New retail financing reached a record $14.07 billion, up 16% from 2006. However, past dues over 30 days rose to 2.36% due to weakness in the US housing market, though write-offs remained low by historical standards. The company delivered strong results despite challenges in credit markets and housing.
Expeditors International of Washington, 2nd07qerfinance39
Expeditors International of Washington, Inc. announced financial results for the second quarter and first half of 2007. Net income increased 16% to $65.5 million for the quarter and 15% to $124.8 million for the first six months compared to the same periods in 2006. Earnings per share grew 20% to $0.30 for the quarter and 14% to $0.56 for the first half. Revenues increased by double-digit percentages for both the quarter and first six months of 2007 driven by growth across all major geographic regions. The company also saw increases in operating income and same store revenue and income for both periods compared to 2006.
Goodrich Corporation reported strong financial results for the second quarter of 2008, with sales growth of 17% and net income per share growth of 49% compared to the second quarter of 2007. Segment operating margins increased 0.8% to 17.1%. For the full year 2008, Goodrich increased its outlook for net income per share to $4.80-$4.95, representing approximately 27-31% growth over 2007. Sales are expected to grow approximately 14% over 2007 to around $7.3 billion.
Goodrich Corporation reported strong financial results for the second quarter of 2008. Sales increased 17% to $1.849 billion compared to the second quarter of 2007, driven by double-digit growth across all major market channels. Net income increased 49% to $187 million and net income per share increased 49% to $1.46. The company also increased its full year 2008 outlook for net income per share to between $4.80 to $4.95, representing approximately 27-31% growth over 2007.
Dover Corporation reported a 16% increase in EPS to $0.88 for Q3 2007 compared to $0.76 for Q3 2006. Revenue increased 15% to $1.84 billion. For the first nine months of 2007, EPS increased 11% to $2.36 while revenue increased 15% to $5.37 billion. The company achieved organic growth of 3.3% and acquisition growth of 9.6% in Q3. Looking ahead, Dover expects continued solid business in Q4 but with moderating growth and restructuring charges of $0.02-0.03 per share.
Fifth Third Bancorp reported a net loss for Q2 2008 due to charges related to leveraged leases. Excluding these charges, pre-tax earnings were up 16% year-over-year due to increases in noninterest income and average loans. However, credit costs increased significantly due to deteriorating economic conditions, particularly in real estate loans in Florida and Michigan. In response, Fifth Third raised capital levels and reduced the common dividend to strengthen its position during the economic downturn.
View Summary Manpower Inc. Withdraws Fourth Quarter 2008 Guidance 12/22/2008finance12
Manpower Inc. withdrew its fourth quarter 2008 guidance due to continued declines in the global labor markets and changes in foreign currencies. The company experienced a 20% revenue decline in the two months ended November 30, 2008 compared to the prior year. As a result of the weaker operating environment, Manpower Inc. will take restructuring charges related to employee severance and office closures in the fourth quarter. Despite the economic challenges, the company's liquidity and financial strength remains strong with $675 million in cash and $182 million in net debt as of the end of November.
The document is the 1999 annual report of Manpower Inc. It discusses the company's financial highlights for 1999, including increased systemwide sales, revenues, and operating margin compared to previous years. It summarizes the company's strategies to focus on providing workforce solutions, investing in technology, improving efficiency, and expanding in professional and specialty staffing. The report discusses how these strategies helped drive growth while improving profitability in 1999.
Manpower provided staffing solutions for a variety of clients around the world in 2000. Some key examples include:
1) Manpower Venezuela used a performance-based compensation model to win staffing contracts for three call centers in Venezuela.
2) In Australia, the Defense Force outsourced its military recruitment to Manpower due to their ability to provide a full-service solution.
3) In North Carolina, Manpower's workforce program helped IBM achieve significant contractor staffing cost savings.
This document highlights Manpower's global reach and ability to customize staffing solutions to meet the diverse needs of clients around the world.
The document is Manpower Inc.'s 2001 annual report. It summarizes that in 2001:
- Systemwide sales decreased 5.3% to $11.8 billion due to a weaker global economy and strengthening US dollar.
- Revenues decreased 3.3% and operating profit declined 23.6% as revenue growth slowed but investments continued.
- Earnings per share decreased 27% to $1.62 primarily due to currency exchange impacts. The company remained focused on providing skilled employees and workforce solutions to customers during economic uncertainty.
This document contains a long list of place names from around the world arranged in no clear order. The places span multiple continents and countries, including locations in France, Italy, Germany, Japan, Canada, Mexico, Argentina and many others.
The document is Manpower Inc.'s 2004 annual report. It discusses Manpower's 57-year history of providing temporary staffing solutions and how it has expanded its services over time. It also discusses how the world of work is constantly changing and how Manpower continues to adapt its solutions to help clients with their HR strategies and market competition. The report features perspectives from clients, including IBM's vice president of global talent discussing how IBM partners with Manpower for just-in-time talent management to source skills globally on demand.
This document is Manpower Inc.'s 2005 annual report. It summarizes the company's financial performance for 2005, noting revenues exceeded $16 billion, a 7.7% increase over 2004. Net income increased 8% to $260 million. It also discusses strategic moves taken in 2005 to expand operations in emerging markets like China and India. Finally, it describes the company's rebranding effort, launching a new logo and tagline - "What do you do?" - to reflect its expanded services beyond temporary staffing.
Manpower Inc. reported record financial results in 2006. Revenues increased 10.8% to $17.6 billion and net earnings increased 53% to $398 million. The company's stock price rose 61% in 2006, outperforming the broader market. Operating profit increased 24% to $532 million due to growth in business and effective cost management across regions. The company has transitioned to focus on providing a wider range of employment services beyond temporary staffing alone. The rebranding launched in 2006 aligned the company's image with this strategic transition and positioned Manpower for continued strong performance.
Manpower Inc. had record revenues and earnings in 2007. Revenues increased 17% to $20.5 billion while net earnings grew 22% to $484.7 million. The company has diversified its services over the past decade to include specialty services beyond temporary staffing, such as permanent recruitment and leadership development. This has improved profit margins and reduced sensitivity to economic cycles. Investments in new services like recruitment process outsourcing have positioned Manpower for continued growth.
The document is a Form 8-K filed by The Goodyear Tire & Rubber Company with the SEC on May 22, 2007. It announces that the company entered into an underwriting agreement to sell over 22 million shares of its common stock in a public offering at $33 per share, for total proceeds of over $750 million. The underwriters exercised their option to purchase additional shares. The company's general counsel issued a legality opinion on the shares offering. The proceeds will be used for general corporate purposes.
The Goodyear Tire & Rubber Company issued notices to partially redeem outstanding notes. It will redeem $140 million of its 9% Senior Notes due 2015 at 109% of par value, and $175 million of its 8.625% Senior Notes due 2011 at 108.625% of par value. Both redemptions will occur on June 29, 2007. Goodyear is using proceeds from a recent equity offering of common stock to fund the redemptions, as allowed under provisions permitting redemption of up to 35% of notes with equity offering proceeds.
The document is an SEC filing by The Goodyear Tire & Rubber Company that provides an adjusted Item 6 of their 2006 Annual Report on Form 10-K. The adjustments correct references in certain footnotes to Item 6 from "income/loss from continuing operations" to "net income/loss" as the results included discontinued operations. Item 6 provides selected financial data for Goodyear from 2002-2006, including net sales, income/loss, income/loss per share, total assets, long term debt, and shareholders' equity. Footnotes provide additional details on items affecting results in certain years.
INTRODUCTION TO FISCAL ECONOMICS OR PUBLIC FINANCEDr T AASIF AHMED
The study of public finance focuses on how the government affects the economy. This area of economics evaluates the public authorities' government spending and revenue and makes adjustments to either one in order to achieve desired results and prevent undesirable ones. Speak with Dr. T. Aasif Ahmed, an Economics faculty member, for further details.
Understanding Urban Land Markets: Characteristics, Influencing Factors, and G...Aditi Sh.
This presentation provides an in-depth exploration of urban land markets, focusing on their defining characteristics and influencing factors. It covers the concept and types of urban land markets, and delves into the governance structures that regulate these markets. Additionally, the presentation includes a comprehensive PESTEL analysis with real-world examples to enhance understanding of the various factors impacting urban land markets.
What is an E-commerce- digital marketingpdfPurna Rai
What is an E-commerce?
E-commerce refers to the buying and selling of goods and services over the Internet. In an e-commerce transaction, the exchange of products or services takes place electronically, often through online platforms or websites. E-commerce has become a major aspect of the modern economy, enabling businesses and consumers to conduct transactions without the need for physical presence. It has gained immense popularity over recent years, with more people turning to online shopping for its convenience and accessibility.
E-commerce platforms provide a virtual marketplace where sellers can showcase their products, and buyers can browse and purchase items with just a few clicks. This has opened up new opportunities for entrepreneurs and businesses of all sizes, allowing them to reach a larger customer base and operate globally. However, e-commerce also presents its own set of challenges, such as competition, security concerns, and effectively managing logistics and customer experience. It is important for e-commerce businesses to stay up-to-date with evolving technologies, consumer trends, and effective marketing strategies to remain successful in this ever-growing industry.
What are the Key Components and Features of E-commerce?
E-commerce has various forms, including business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C), and more. The growth of e-commerce has transformed the way businesses operate and how consumers shop, providing convenience, accessibility, and a global marketplace. Key components and features of e-commerce include:
Online Stores: Businesses set up digital storefronts or online stores where customers can browse, select, and purchase products or services. These stores can take various forms, including dedicated websites, marketplaces, or social media platforms.
Electronic Payments: E-commerce transactions involve electronic payment methods. Customers can use credit cards, digital wallets, online banking, or other electronic payment systems for making payments.
Digital Marketing: E-commerce relies heavily on digital marketing strategies to attract customers. This includes search engine optimization (SEO), social media marketing, email marketing, and other online advertising methods.
Product Catalogs: Online stores have digital catalogs that showcase their products or services. These catalogs provide detailed information, images, and specifications to help customers make informed purchasing decisions.
Shopping Carts: E-commerce platforms typically incorporate shopping carts that allow customers to add products to their virtual cart, review their selections, and proceed to checkout for payment.
Secure Transactions: Security is a critical aspect of e-commerce. Secure socket layer (SSL) encryption is commonly used to ensure the confidentiality and integrity of sensitive information, such as payment details.
Public Expenditure & its Classifications, Canons, Causes, Effects & Theories....Dr T AASIF AHMED
The meaning, classifications, canons, theories, effects, and trends in public spending are all included in this ppt. This has been prepared to aid students in understanding and help them achieve the best grade possible. Kindly provide your insightful opinions and recommendations. For additional details, get in touch with Dr. T. Aasif Ahmed.
Neither of excess is good for the society, it has to be balanced to achieve maximum social benefit. Dalton called this principle as "Maximum Social Advantage" and Pigou termed it as "Maximum Aggregate Welfare". It was introduced by Swedish Economist "Erik Lindahl in 1919". See my ppt for additional details.
Building Trust Through Transparency Kissht's Commitment during Regulatory Cr...Kissht Reviews
Kissht, a leading India fintech company, has shown an unwavering commitment to these principles, particularly during periods of regulatory crackdowns. By prioritizing transparency and robust compliance measures, Kissht has not only built trust among its users but also established itself as a reliable and ethical player in the fintech industry.
Building Trust Through Transparency Kissht's Commitment during Regulatory Cr...
raytheon Q4 Earnings Presentation
1. Media Relations
News release
FOR IMMEDIATE RELEASE
Media Contact: Investor Relations Contact:
Jon Kasle Greg Smith
781-522-5110 781-522-5141
Raytheon Reports Strong Second Quarter 2007 Results and Increases Full-year
Guidance
Highlights
• Earnings per share (EPS) from continuing operations of $0.79, up 30 percent
• Sales of $5.4 billion, up 9 percent
• Increases full-year guidance for EPS, bookings and ROIC
• Sale of Raytheon Aircraft Company completed, resulting in after-tax net
proceeds of $2.4 billion
• Repurchased 9.6 million shares for $526 million
WALTHAM, Mass., (July 26, 2007) – Raytheon Company (NYSE: RTN) reported second
quarter 2007 income from continuing operations of $356 million or $0.79 per diluted share
compared to $276 million or $0.61 per diluted share in the second quarter 2006. Second
quarter 2007 income from continuing operations was higher primarily due to operational
improvements, combined with lower net interest and pension expense. As previously
announced, second quarter 2007 income from continuing operations included a $39
million charge ($59 million pretax) or $0.09 per diluted share for the early redemption of
$1.0 billion of debt.
“We are very pleased with the Company’s solid operating performance in the first half of
2007, along with the significant wins during the quarter on Navy Multiband Terminal and
Warfighter FOCUS programs, which represent a potential of $12 billion over the life of
these programs,” said William H. Swanson, Raytheon's Chairman and CEO. “Our strong
operational improvements allow us to increase our 2007 guidance for full-year EPS and
bookings.”
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2. Second quarter 2007 net income was $1,335 million or $2.97 per diluted share compared
to $310 million or $0.69 per diluted share in the second quarter 2006. Net income for the
second quarter 2007 included $979 million in discontinued operations or $2.18 per diluted
share of which $986 million was attributable to the gain on the sale of Raytheon Aircraft
Company (RAC), which was completed in the second quarter. The sale resulted in after-
tax net proceeds of approximately $2.4 billion.
Net sales for the second quarter 2007 were $5.4 billion, up 9 percent from $5.0 billion in
the second quarter 2006 led by Integrated Defense Systems (IDS), Missile Systems (MS)
and Network Centric Systems (NCS).
Operating cash flow from continuing operations for the second quarter 2007 was an
outflow of $46 million versus a positive $474 million for the second quarter 2006. The
second quarter 2007 included $589 million in cash tax payments versus $101 million in
cash tax payments paid in the second quarter 2006. Of the cash taxes paid in the second
quarter 2007, $316 million was attributable to the gain on the sale of RAC.
Year-to-date operating cash flow from continuing operations was an outflow of $425
million versus a positive $426 million for the comparable period in 2006. The year-to-date
decrease in operating cash flow was primarily due to $643 million in cash tax payments
($316 million attributable to the gain on the sale of RAC) in the first half 2007 versus $101
million of cash tax payments made in the first half 2006 combined with the $400 million
discretionary cash contribution made to the Company’s pension plans in the first quarter
2007 versus the $200 million discretionary cash contribution made in the first quarter
2006.
During the second quarter 2007, the Company repurchased 9.6 million shares for $526
million as part of the Company’s previously announced share repurchase program. The
Company has repurchased 14.7 million shares of common stock year-to-date for $801
million.
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3. Summary Financial Results 2nd Quarter % Six Months %
2007 2006 Change 2007 2006 Change
($ in millions, except per share data)
Net Sales $ 5,419 $ 4,973 9% $ 10,347 $ 9,633 7%
Total Operating Expenses 4,831 4,512 9,249 8,739
Operating Income 588 461 28% 1,098 894 23%
Non-operating Expenses 53 42 88 64
Income from Cont. Ops. before Taxes $ 535 $ 419 28% $ 1,010 $ 830 22%
Income from Continuing Operations $ 356 $ 276 29% $ 670 $ 548 22%
Income from Discontinued Operations* 979 34 NM 1,011 49 NM
Net Income $ 1,335 $ 310 331% $ 1,681 $ 597 182%
Diluted EPS from Continuing Operations $ 0.79 $ 0.61 30% $ 1.49 $ 1.22 22%
Diluted EPS $ 2.97 $ 0.69 330% $ 3.73 $ 1.33 180%
Operating Cash Flow from Cont. Ops.** $ (46) $ 474 $ (425) $ 426
* Includes after-tax net gain of $986 million on sale of Raytheon Aircraft Company in Q2'07
** Includes $316 million cash tax payment related to the completion of the Raytheon Aircraft Company sale in Q2'07
Bookings and Backlog
Bookings 2nd Quarter Six Months
2007 2006 2007 2006
(in millions)
Total Bookings $ 4,973 $ 4,837 $ 10,255 $ 9,804
Backlog
06/24/07 12/31/06
(in millions)
Backlog $ 33,318 $ 33,838
Funded Backlog $ 18,067 $ 18,186
The Company reported total bookings for the second quarter 2007 of $5.0 billion
compared to $4.8 billion in the second quarter 2006. The Company ended the second
quarter 2007 with backlog of $33.3 billion compared to $31.5 billion at the end of the
second quarter 2006 and $33.8 billion at the end of 2006.
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4. Outlook
2007 Financial Outlook Current Prior *
Bookings ($B) 22.0 - 23.0 21.0 - 22.0
Net Sales ($B) 21.4 - 21.9 21.4 - 21.9
FAS/CAS Pension Expense ($M) 270 270
Interest Expense, net ($M) 45 - 60 65 - 80
Diluted Shares (M) 446 - 448 446 - 448
EPS from Cont. Ops. ($) $3.05 - $3.20 $2.85 - $3.00
Operating Cash Flow from Cont. Ops. ($B) 0.9 - 1.1** 1.5 - 1.7
** Includes cash tax payments of approximately $630 million,
resulting from the sale of Raytheon Aircraft
ROIC (%) 8.6 - 9.1 8.2 - 8.7
* As of April 25, 2007
The Company has increased full-year 2007 guidance for earnings per share from
continuing operations, bookings and Return on Invested Capital (ROIC), and updated net
interest expense guidance. Full-year 2007 guidance for operating cash flow from
continuing operations has been revised to reflect approximately $630 million in cash tax
payments related to the sale of RAC, of which $316 million was paid in the second quarter
2007, with the remaining $314 million expected to be paid in the second half of 2007.
Charts containing additional information on the Company’s 2007 performance and
guidance are available on the Company's website at www.raytheon.com. See attachment
F for the Company's calculation and use of ROIC, a non-GAAP financial measure.
Segment Results
Integrated Defense Systems
2nd Quarter % Six Months %
2007 2006 Change 2007 2006 Change
($ in millions)
Net Sales $ 1,166 $ 1,038 12% $ 2,258 $ 2,001 13%
Operating Income $ 212 $ 177 20% $ 411 $ 335 23%
Operating Margin 18.2% 17.1% 18.2% 16.7%
Integrated Defense Systems (IDS) had second quarter 2007 net sales of $1,166 million,
up 12 percent compared to $1,038 million in the second quarter 2006, primarily due to
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5. growth on Missile Defense Agency, U.S. Navy and U.S. Army programs, as well as on
international programs. IDS recorded $212 million of operating income compared to $177
million in the second quarter 2006. The increase in operating income was primarily due to
higher volume and improved performance on several domestic programs.
During the quarter, IDS booked $298 million to provide system and software engineering
for the Ballistic Missile Defense System (BMDS) program, $146 million related to the
renewal of an international Patriot technical support contract, and $113 million for the
continued design, production, integration, and testing of Cobra Judy Replacement Mission
Equipment (CJRME).
Intelligence and Information Systems
2nd Quarter % Six Months %
2007 2006 Change 2007 2006 Change
($ in millions)
Net Sales $ 666 $ 633 5% $ 1,254 $ 1,244 1%
Operating Income $ 63 $ 58 9% $ 118 $ 113 4%
Operating Margin 9.5% 9.2% 9.4% 9.1%
Intelligence and Information Systems (IIS) had second quarter 2007 net sales of $666
million, up 5 percent compared to $633 million in the second quarter 2006, primarily due
to increased volume on several U.S. Air Force programs and on certain classified
programs. IIS recorded $63 million of operating income compared to $58 million in the
second quarter 2006.
During the quarter, IIS booked $332 million on a number of classified contracts, including
$157 million on a major classified contract.
Missile Systems
2nd Quarter % Six Months %
2007 2006 Change 2007 2006 Change
($ in millions)
Net Sales $ 1,244 $ 1,117 11% $ 2,384 $ 2,106 13%
Operating Income $ 134 $ 122 10% $ 254 $ 232 9%
Operating Margin 10.8% 10.9% 10.7% 11.0%
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6. Missile Systems (MS) had second quarter 2007 net sales of $1,244 million, up 11 percent
compared to $1,117 million in the second quarter 2006, primarily due to higher volume on
Standard Missile, AIM-9X and Phalanx. MS recorded $134 million of operating income
compared to $122 million in the second quarter 2006.
During the quarter, MS booked $175 million for the production of Advanced Medium-
Range Air-to-Air Missile (AMRAAM) for the U.S. Air Force. MS also booked $105 million
for additional development on the Rolling Airframe Missile (RAM) program for the U.S.
Navy and $91 million for the production of Standard Missile-3 (SM-3).
Network Centric Systems
2nd Quarter % Six Months %
2007 2006 Change 2007 2006 Change
($ in millions)
Net Sales $ 1,052 $ 880 20% $ 1,981 $ 1,671 19%
Operating Income $ 139 $ 91 53% $ 256 $ 175 46%
Operating Margin 13.2% 10.3% 12.9% 10.5%
Network Centric Systems (NCS) had second quarter 2007 net sales of $1,052 million, up
20 percent compared to $880 million in the second quarter 2006, primarily due to growth
on U.S. Army programs. NCS recorded $139 million of operating income compared to
$91 million in the second quarter 2006. The increase in operating income was primarily
due to higher volume and improved program performance.
During the quarter, NCS booked $159 million for development work on the U.S. Navy
Multiband Terminal (NMT) contract, which has a combined potential value over its lifetime
in excess of $1 billion for development and production.
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7. Space and Airborne Systems
2nd Quarter % Six Months %
2007 2006 Change 2007 2006 Change
($ in millions)
Net Sales $ 1,065 $ 1,057 1% $ 2,029 $ 2,075 -2%
Operating Income $ 133 $ 152 -13% $ 262 $ 297 -12%
Operating Margin 12.5% 14.4% 12.9% 14.3%
Space and Airborne Systems (SAS) had second quarter 2007 net sales of $1,065 million
compared to $1,057 million in the second quarter 2006. SAS recorded $133 million of
operating income compared to $152 million in the second quarter 2006. Operating
income was lower primarily due to profit adjustments taken on certain programs.
During the quarter, SAS booked over $200 million on a number of classified contracts.
Technical Services
2nd Quarter % Six Months %
2007 2006 Change 2007 2006 Change
($ in millions)
Net Sales $ 473 $ 466 2% $ 899 $ 916 -2%
Operating Income $ 29 $ 30 -3% $ 50 $ 61 -18%
Operating Margin 6.1% 6.4% 5.6% 6.7%
Technical Services (TS) had second quarter 2007 net sales of $473 million compared to
$466 million in the second quarter 2006. TS recorded operating income of $29 million in
the second quarter 2007 compared to $30 million in the second quarter 2006.
During the quarter, TS was awarded the U.S. Army’s Warfighter Field Operations
Customer Support (FOCUS) contract to improve the readiness and effectiveness of U.S.
Army soldiers. This Indefinite Delivery/Indefinite Quantity (IDIQ) contract has a potential
total value in excess of $11 billion over a 10-year period.
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8. Other
Net sales in the second quarter 2007 were $217 million compared to $202 million in the
second quarter 2006, with operating income of $1 million in the second quarter 2007
compared to an operating loss of $10 million in the second quarter 2006.
Raytheon Company (NYSE: RTN), with 2006 sales of $20.3 billion, is a technology leader
specializing in defense, homeland security and other government markets throughout the
world. With a history of innovation spanning 85 years, Raytheon provides state-of-the-art
electronics, mission systems integration and other capabilities in the areas of sensing;
effects; and command, control, communications and intelligence systems, as well as a
broad range of mission support services. With headquarters in Waltham, Mass., Raytheon
employs 73,000 people worldwide.
Disclosure Regarding Forward-looking Statements
This release and the attachments contain forward-looking statements, including
information regarding the Company’s 2007 financial outlook, future plans, objectives,
business prospects and anticipated financial performance. These forward-looking
statements are not statements of historical facts and represent only the Company’s
current expectations regarding such matters. These statements inherently involve a wide
range of known and unknown risks and uncertainties. The Company’s actual actions and
results could differ materially from what is expressed or implied by these statements.
Specific factors that could cause such a difference include, but are not limited to: risks
associated with the Company’s U.S. government sales, including changes or shifts in
defense spending, uncertain funding of programs, potential termination of contracts, and
difficulties in contract performance; the ability to procure new contracts; the risks of
conducting business in foreign countries; the ability to comply with extensive
governmental regulation, including import and export policies and procurement and other
regulations; the impact of competition; the ability to develop products and technologies;
the risk of cost overruns, particularly for the Company’s fixed-price contracts; dependence
on component availability, subcontractor performance and key suppliers; risks of a
negative government audit; the use of accounting estimates in the Company’s financial
statements; the potential impairment of the Company’s goodwill; risks associated with
Flight Options’ ability to compete and meet its financial objectives; risks associated with
the commuter and fractional ownership aircraft markets; the outcome of contingencies and
litigation matters, including government investigations; the ability to recruit and retain
qualified personnel; risks associated with acquisitions, joint ventures and other business
arrangements; the impact of changes in the Company’s credit ratings; and other factors as
may be detailed from time to time in the Company’s public announcements and Securities
and Exchange Commission filings. In addition, these statements do not give effect to the
8
9. potential impact of any acquisitions, divestitures or business combinations that may be
announced or closed after the date hereof. The Company undertakes no obligation to
make any revisions to the forward-looking statements contained in this release and the
attachments or to update them to reflect events or circumstances occurring after the date
of this release.
Conference Call on the Second Quarter 2007 Financial Results
Raytheon’s financial results conference call will be held on Thursday, July 26, 2007 at 9
a.m. EDT. Participants will include William H. Swanson, Chairman and CEO, David C.
Wajsgras, senior vice president and CFO, and other Company executives.
The dial-in number for the conference call will be (866) 800 - 8651. The conference call
will also be audiocast on the Internet at www.raytheon.com. Individuals may listen to the
call and download charts that will be used during the call. These charts will be available
for printing prior to the call.
Interested parties are encouraged to check the website ahead of time to ensure their
computers are configured for the audio stream. Instructions for obtaining the free required
downloadable software are posted on the site.
###
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10. Attachment A
Raytheon Company
Preliminary Statement of Operations Information
Second Quarter 2007
Six Months Ended
(In millions except per share amounts) Three Months Ended
24-Jun-07 25-Jun-06 24-Jun-07 25-Jun-06
Net sales $ 5,419 $ 4,973 $ 10,347 $ 9,633
Cost of sales 4,326 4,032 8,307 7,839
Administrative and selling expenses 367 345 707 664
Research and development expenses 138 135 235 236
Total operating expenses 4,831 4,512 9,249 8,739
Operating income 588 461 1,098 894
Interest expense 54 68 114 137
Interest income (57) (13) (85) (34)
Other expense (income), net 56 (13) 59 (39)
Non-operating expense, net 53 42 88 64
Income from continuing operations before taxes 535 419 1,010 830
Federal and foreign income taxes 179 143 340 282
Income from continuing operations 356 276 670 548
Net (loss) income from discontinued operations (7) 34 25 49
Net gain on disposal 986 - 986 -
Income from discontinued operations 979 34 1,011 49
Net income $ 1,335 $ 310 $ 1,681 $ 597
Earnings per share from continuing operations
Basic $ 0.82 $ 0.62 $ 1.53 $ 1.24
Diluted $ 0.79 $ 0.61 $ 1.49 $ 1.22
Earnings per share from discontinued operations
Basic $ 2.24 $ 0.08 $ 2.30 $ 0.11
Diluted $ 2.18 $ 0.08 $ 2.24 $ 0.11
Earnings per share
Basic $ 3.06 $ 0.70 $ 3.83 $ 1.35
Diluted $ 2.97 $ 0.69 $ 3.73 $ 1.33
Average shares outstanding
Basic 436.7 442.7 438.9 442.5
Diluted 448.8 450.9 451.0 450.3
11. Attachment B
Raytheon Company
Preliminary Segment Information
Second Quarter 2007
(In millions)
Operating Income
Net Sales Operating Income As a Percent of Sales
Three Months Ended Three Months Ended Three Months Ended
24-Jun-07 25-Jun-06 24-Jun-07 25-Jun-06 24-Jun-07 25-Jun-06
Integrated Defense Systems $ 1,166 $ 1,038 $ 212 $ 177 18.2% 17.1%
Intelligence and Information Systems 666 633 63 58 9.5% 9.2%
Missile Systems 1,244 1,117 134 122 10.8% 10.9%
Network Centric Systems 1,052 880 139 91 13.2% 10.3%
Space and Airborne Systems 1,065 1,057 133 152 12.5% 14.4%
Technical Services 473 466 29 30 6.1% 6.4%
Other 217 202 1 (10) 0.5% -5.0%
FAS/CAS Pension Adjustment - - (63) (96)
Corporate and Eliminations (464) (420) (60) (63)
Total $ 5,419 $ 4,973 $ 588 $ 461 10.9% 9.3%
Operating Income
Net Sales Operating Income As a Percent of Sales
Six Months Ended Six Months Ended Six Months Ended
24-Jun-07 25-Jun-06 24-Jun-07 25-Jun-06 24-Jun-07 25-Jun-06
Integrated Defense Systems $ 2,258 $ 2,001 $ 411 $ 335 18.2% 16.7%
Intelligence and Information Systems 1,254 1,244 118 113 9.4% 9.1%
Missile Systems 2,384 2,106 254 232 10.7% 11.0%
Network Centric Systems 1,981 1,671 256 175 12.9% 10.5%
Space and Airborne Systems 2,029 2,075 262 297 12.9% 14.3%
Technical Services 899 916 50 61 5.6% 6.7%
Other 398 392 (7) (23) -1.8% -5.9%
FAS/CAS Pension Adjustment - - (125) (181)
Corporate and Eliminations (856) (772) (121) (115)
Total $ 10,347 $ 9,633 $ 1,098 $ 894 10.6% 9.3%
12. Attachment C
Raytheon Company
Other Preliminary Information
Second Quarter 2007
Funded
Backlog Backlog
(In millions) (In millions)
24-Jun-07 31-Dec-06 24-Jun-07 31-Dec-06
Integrated Defense Systems $ 7,958 $ 7,934 $ 3,879 $ 4,088
Intelligence and Information Systems 3,615 3,935 877 893
Missile Systems 9,356 9,504 5,071 5,135
Network Centric Systems 5,328 5,059 4,031 4,037
Space and Airborne Systems 5,115 5,591 2,968 2,770
Technical Services 1,701 1,572 996 1,020
Other 245 243 245 243
Total $ 33,318 $ 33,838 $ 18,067 $ 18,186
Bookings
(In millions)
Three Months Ended
24-Jun-07 25-Jun-06
Total Bookings $ 4,973 $ 4,837
13. Attachment D
Raytheon Company
Preliminary Balance Sheet Information
Second Quarter 2007
(In millions)
Balance sheets
24-Jun-07 31-Dec-06
Assets
Cash and cash equivalents $ 3,045 $ 2,460
Accounts receivable, less allowance for doubtful accounts 152 178
Contracts in process 3,945 3,600
Inventories 537 487
Deferred taxes 227 257
Prepaid expenses and other current assets 244 239
Assets held for sale - 2,296
Total current assets 8,150 9,517
Property, plant and equipment, net 2,086 2,131
Deferred taxes 240 189
Goodwill 11,541 11,539
Other assets, net 2,273 2,115
Total assets $ 24,290 $ 25,491
Liabilities and Stockholders' Equity
Notes payable and current portion of long-term debt $ 686 $ 687
Advance payments and billings in excess of costs incurred 1,895 1,962
Accounts payable 893 920
Accrued salaries and wages 754 944
Other accrued expenses 1,379 1,193
Liabilities held for sale - 1,009
Total current liabilities 5,607 6,715
Accrued retiree benefits and other long-term liabilities 4,075 4,232
Long-term debt 2,233 3,278
Minority interest 195 165
Stockholders' equity 12,180 11,101
Total liabilities and stockholders' equity $ 24,290 $ 25,491
14. Attachment E
Raytheon Company
Preliminary Cash Flow Information
Second Quarter 2007
(In millions)
Cash flow information
Three Months Ended Six Months Ended
24-Jun-07 25-Jun-06 24-Jun-07 25-Jun-06
Income from continuing operations $ 356 $ 276 $ 670 $ 548
Depreciation 74 74 143 143
Amortization 23 22 43 41
Working capital (48) (47) (718) (564)
Discontinued operations (4) (14) (41) 14
Net activity in financing receivables 35 29 56 74
Other (486) 120 (619) 184
Net operating cash flow (50) 460 (466) 440
Capital spending (57) (53) (96) (88)
Internal use software spending (19) (21) (34) (25)
Acquisitions - - - (47)
Investment activity and divestitures 3,117 28 3,117 50
Dividends (113) (107) (220) (205)
Repurchase of common stock (526) - (801) (102)
Debt repayments (1,041) (339) (1,038) (371)
Discontinued operations - (10) (27) (18)
Other 74 23 150 89
Total cash flow $ 1,385 $ (19) $ 585 $ (277)
15. Attachment F
Raytheon Company
Non-GAAP Financial Measures
Second Quarter 2007
We define ROIC as income from continuing operations plus after-tax net interest expense plus one-third of operating
lease expense after-tax (estimate of interest portion of operating lease expense) divided by average invested capital
after capitalizing operating leases (operating lease expense times a multiplier of 8), adding financial guarantees less
net investment in Discontinued Operations, and adding back the cumulative minimum pension liability/impact of
FAS 158. ROIC is not a measure of financial performance under generally accepted accounting principles (GAAP) and
may not be defined and calculated by other companies in the same manner. ROIC should be considered
supplemental to and not a substitute for financial information prepared in accordance with GAAP. We use ROIC as a
measure of efficiency and effectiveness of our use of capital and as an element of management compensation.
Return on Invested Capital
2007 Current Guidance 2007 Prior Guidance
(In millions)
Low end High end Low end High end
of range of range of range of range
Income from continuing operations
Net interest expense, after-tax* Combined Combined Combined Combined
Lease expense, after-tax*
Return $ 1,470 $ 1,535 $ 1,400 $ 1,465
Net debt **
Equity less investment in discontinued operations
Lease expense x 8 plus financial guarantees Combined Combined Combined Combined
Minimum pension liability (cumulative)
Invested capital from continuing operations*** $ 17,050 $ 16,850 $ 17,050 $ 16,850
ROIC 8.6% 9.1% 8.2% 8.7%
* Effective tax rate: 33.9% (2007 guidance)
** Net debt is defined as total debt less cash and cash equivalents and is calculated using a 2 point average
*** Calculated using a 2 point average