“Raytheon Co. reported fourth-quarter profit that beat analysts’ estimates, and the maker of Patriot missile-defense systems forecast a second straight annual sales increase.
Revenue this year will be $24 billion to $24.5 billion, the company said Thursday in a statement, more than the $23.95 billion average of 18 analysts’ estimates compiled by Bloomberg. Even the low end of the forecast would mark an increase from the $23.2 billion total for 2015.
The nation’s fourth-largest defense contractor posted its first annual sales increase in five years in 2015, led by gains in the Integrated Defense Systems and Missile Systems units. Raytheon, which has grappled for years with tightened Pentagon spending, also has been bulking up its cybersecurity business to try to capture more revenue.”