Raytheon saw a 3 percent increase in total net sales from a year ago, partly due to increases in missile orders as the U.S. and coalition countries fight the Islamic State.
In results released Thursday, Raytheon’s Missile Systems division’s net sales alone increased 6 percent since 2015, reaching a total of $1.6 billion in comparison to $1.5 billion last year. This increase was attributed to sales on the Paveway program, which provides laser-guided bombs. In April, British Royal Air Force Tornado jets began dropping Paveways against the Islamic State.
Additionally, Space and Airborne Systems net sales experienced a 9 percent increase from $1.416 billion to $1.547 billion since second-quarter 2015 results, due to more purchases of classified programs.
“The company had strong second-quarter operating results, with bookings, sales, operating margin, earnings per share and cash flow all ahead of our expectations,” CEO Thomas Kennedy said. “We begin the second half of 2016 with continued confidence in our growth outlook, and we have increased our guidance for earnings and cash flow as a result of our strong year-to-date performance.”
In total, net sales reached $6 billion this quarter, compared to $5.8 billion in last year’s second quarter.
