Raytheon Co (RTN) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Earnings Press Release
10-K Annual Report
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Raytheon Co
Ticker: RTN CIK: 1047122

Exhibit 99.1



			Raytheon Company
			Global Headquarters
			Waltham, Mass.

			Investor Relations Contact
			Todd Ernst
			781.522.5141

			Media Contact
			Pam Erickson
			781.522.5822

For Immediate Release

Raytheon Reports Solid Fourth Quarter and Full-Year 2014 Results


•	Strong bookings of $7.1 billion in the quarter and $24.1 billion for the year; book-to-bill ratio of 1.05 for the year


•	Fourth quarter 2014 net sales of $6.1 billion; full-year net sales of $22.8 billion


•	Fourth quarter EPS from continuing operations of $1.86; full-year EPS from continuing operations of $6.97


•	Fourth quarter Adjusted EPS¹ of $1.71; full-year Adjusted EPS of $6.12


•	Strong operating cash flow from continuing operations of $829 million in the quarter and $2.1 billion for the year after a $600 million pretax discretionary pension plan contribution

__________________________________________________________________________________________________

WALTHAM, Mass., (January 29, 2015) - Raytheon Company (NYSE: RTN) announced fourth quarter 2014 EPS from continuing operations of $1.86 compared to $1.46 in the fourth quarter 2013. Fourth quarter 2014 Adjusted EPS was $1.71 per diluted share compared to $1.58 per diluted share in the fourth quarter 2013. Fourth quarter 2014 Adjusted EPS excluded a favorable FAS/CAS Adjustment of $0.15. Fourth quarter 2013 Adjusted EPS excluded an unfavorable FAS/CAS Adjustment of $0.12.

Full-year 2014 EPS from continuing operations was $6.97 compared to $5.96 for the full-year 2013. Full-year 2014 Adjusted EPS was $6.12 per diluted share compared to $6.38 per diluted share for the full-year 2013.

"Raytheon finished 2014 with strong fourth quarter operating performance, driven by continued global demand for our advanced solutions and solid execution from the Raytheon team," said Thomas A. Kennedy, Raytheon Chairman and CEO. " As we look to the year ahead, we will continue our focus on investing in innovative technologies, building on our capabilities to position the company for the future, and providing ongoing strong returns for shareholders."

The Company had bookings of $7.1 billion in the fourth quarter 2014, resulting in a book-to-bill ratio of 1.16. Full-year 2014 bookings were $24.1 billion, resulting in a book-to-bill ratio of 1.05 for the year.

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¹ Adjusted EPS is diluted EPS from continuing operations attributable to Raytheon Company common stockholders, excluding the impact of the FAS/CAS Adjustment, and from time to time, certain other items. Adjusted EPS is a non-GAAP financial measure. See attachment F for a reconciliation of this measure and a discussion of why the Company is presenting this information.

The following information was filed by Raytheon Co (RTN) on Thursday, January 29, 2015 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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