Raytheon Co Announces 22% Fall In Q1 Bottom Line

(RTTNews) - Raytheon Co (RTN) reported a profit for first quarter that dropped from last year.

The company said its profit declined to $429 million, or $1.43 per share. This was down from $551 million, or $1.79 per share, in last year's first quarter.

Analysts had expected the company to earn $1.38 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 8.9% to $5.76 billion. This was up from $5.29 billion last year.

Raytheon Co earnings at a glance:

-Earnings (Q1): $429 Mln. vs. $551 Mln. last year. -Earnings Decline (Y-o-Y): -22.1% -EPS (Q1): $1.43 vs. $1.79 last year. -EPS Decline (Y-o-Y): -20.1% -Analysts Estimate: $1.38 -Revenue (Q1): $5.76 Bln vs. $5.29 Bln last year. -Revenue Change (Y-o-Y): 8.9%

-Guidance: Full year EPS guidance: $6.93 - $7.13 Full year revenue guidance: $24.0 - $24.5 Bln