WALTHAM, Mass., (January 30, 2014) - Raytheon Company (NYSE: RTN) announced fourth quarter 2013 Adjusted EPS1 of $1.58 per diluted share compared to $1.62 per diluted share in the fourth quarter 2012. Fourth quarter 2013 EPS from continuing operations was $1.46 compared to $1.41 in the fourth quarter 2012. The fourth quarter 2012 Adjusted EPS1 excluded a $0.06 net charge associated with the impact of early debt retirement, and has been revised to include the favorable $0.02 impact for the 2012 research and development (R&D) tax credit approved by Congress in January 2013. In addition, the fourth quarter 2013 Adjusted EPS1 excluded an unfavorable FAS/CAS Adjustment of $0.12, compared with an unfavorable FAS/CAS Adjustment of $0.13 in the fourth quarter 2012.
Full-year 2013 Adjusted EPS1 was $6.38 per diluted share compared to $6.28 for the full-year 2012. Full-year 2013 EPS from continuing operations was $5.96 compared to $5.65 for the full-year 2012.
1 Adjusted EPS is diluted EPS from continuing operations attributable to Raytheon Company common stockholders, and Adjusted Operating Margin is total operating margin; in each case, excluding the impact of the FAS/CAS Adjustment, and from time to time, certain other items. Full-year 2013 Adjusted EPS excluded the $0.08 impact of the 2012 research and development (R&D) tax credit, approved by Congress in January 2013, that relates to 2012. Q4 2012 and full-year 2012 Adjusted EPS also excluded the impact of the early retirement of debt as discussed above and have been revised to include the favorable $0.02 and $0.07 impact, respectively, for the 2012 R&D tax credit. Adjusted EPS and Adjusted Operating Margin are non-GAAP financial measures. See attachment F for a reconciliation of these measures and a discussion of why the Company is presenting this information.
The following information was filed by Raytheon Co (RTN) on Thursday, January 30, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: RTN CIK: 1047122 Form Type:10-K Annual Report Accession Number: 0001047122-14-000013 Submitted to the SEC: Tue Feb 11 2014 4:14:06 PM EST Accepted by the SEC: Tue Feb 11 2014 Period: Tuesday, December 31, 2013 Industry: Search Detection Navagation Guidance Aeronautical Sys