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Raytheon posts Q4 profit

Raytheon Co. said its fourth-quarter normalized net income amounted to $507.4 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 8.1%.

Total revenue came to $6.24 billion, and total operating expenses came to $5.38 billion.

Reported net income totaled $535.4 million, or $1.82 per share.

For the year, the company's normalized net income totaled $6.59 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $7.46.

EPS rose from $5.51 in the prior year.

Normalized net income was $1.93 billion, an increase from $1.66 billion in the prior year.

Full-year total revenue increased from the prior-year period to $24.07 billion from $23.25 billion, and total operating expenses increased on an annual basis to $20.83 billion from $20.38 billion.

The company said reported net income grew on an annual basis to $2.18 billion, or $7.44 per share, in the full year, from $2.03 billion, or $6.75 per share.