Raytheon reports increased sales and earnings for 1995.LEXINGTON, Mass.--(BUSINESS WIRE)--Jan. 18, 1996--Raytheon Company today reported increased 1995 net income of $792.5 million, or $3.25 per share, compared with 1994's net income of $596.9 million, or $2.26 per share. The 1994 results include a first quarter after-tax restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of $162.3 million, or $.61 per share. The 1994 earnings excluding the restructuring charge were $759.2 million, or $2.87 per share. Total Raytheon sales in 1995 reached $11.7 billion, the highest in the company's history, compared with sales of $10.0 billion in 1994. "Raytheon's results in 1995 reflect the company's solid overall commercial sales and profits driven by continued strong performances at Raytheon Aircraft, Raytheon Engineers & Constructors and commercial electronics, as well as the significant contribution of E-Systems," said Dennis J. Picard, Raytheon's chairman and chief executive officer. Total debt came down substantially to $2.7 billion at year end compared with a peak of approximately $4 billion earlier in 1995 following the acquisition of E-Systems. Raytheon ended the year with debt, net of cash and marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has , of $2.494 billion, or 36.7 percent of total capitalization Total capitalization The total long-term debt and all types of equity of a company that constitutes its capital structure. total capitalization See capitalization. . Raytheon's total backlog ended the year at a record $10.551 billion, reflecting a 47 percent increase in the backlog of Raytheon Engineers & Constructors compared with year-end 1994, and a record E-Systems backlog. The company made three acquisitions in 1995: E-Systems, a leader in intelligence, reconnaissance and surveillance systems; assets of Litwin Engineers & Constructors, an international leader in hydrocarbon refining and process technology; and Anschuetz, one of the world's leading manufacturers of gyro compasses, autopilots and steering control systems, a high seas high seas In maritime law, the waters lying outside the territorial waters of any and all states. In the Middle Ages, a number of maritime states asserted sovereignty over large portions of the high seas. product line that complements Raytheon's existing marine electronics line. Raytheon Engineers & Constructors, one of the largest engineering, construction, operations and maintenance firms in the world, reported record sales, profits and backlog for the year. Raytheon Aircraft, a world leader in general aviation and winner in 1995 of the competition for the multibillion dollar Joint Primary Aircraft Training System Joint Primary Aircraft Training System, usually just called JPATS, was an aircraft procurement program of the United States in the 1990s by the USAF and USN, a merger of 1980s era training aircraft programs. for the U.S. Air Force and U.S. Navy, also had record sales and profits for the year. Raytheon Appliances had increased sales while profits were slightly lower due to strong competitive price pressures and higher material costs. In the Electronics segment, sales and profits increased for the year due to the contribution of E-Systems and commercial electronics. Raytheon's Massachusetts-based defense operations experienced declines in sales and profits, however the rate of decline was not as great as in prior years. The company also reported record fourth quarter 1995 sales, net income and earnings per share of $3.360 billion, $222.3 million and $.92 respectively. The fourth quarter results include a pre-tax gain of $210 million from the sale of D.C. Heath, the non-core educational publishing unit. Raytheon also recorded a special pre-tax charge of $125 million related to real estate and other balance sheet valuations, and non-recurring charges of $77 million related principally to inventory and contract valuations. The net gain resulted in a $5.2 million after-tax increase to net income, or $.02 per share. The fourth quarter 1995 results compare with fourth quarter 1994 results of $2.729 billion in sales, $205.7 million in income, and earnings per share of $.80. Raytheon's total backlog at year-end was $10.551 billion, an increase of 31 percent from the total backlog of $8.070 billion at the end of 1994. The year-end 1995 U.S. government portion of Raytheon's total backlog was $5.142 billion, reflecting the acquisition of E-Systems, and compares with a U.S. government backlog of $3.641 billion at the end of 1994. Raytheon Company, headquartered in Lexington, Mass., is an international, high technology company which operates in four businesses: commercial and defense electronics, engineering and construction, aviation and major appliances. Financial tables follow, followed by Raytheon's highlights of the year for each business segment. -0-
Raytheon Company
Selected Financial Data
4th Quarter, 1995
3 months ended Year-Ended
Dec. 31 Dec. 31 Dec. 31 Dec. 31
1995 1994 Change 1995 1994 Change
Dollars in millions, except for earnings per share, or unless otherwise indicated Net sales (billions) $3.360 $2.729 23.1% $11.716 $10.013 17.0% Operating income before special items(1) $353.0 $282.9 24.8% $1,289.4 $1,078.4 19.6% Special and restructuring charges ($125.0) $0.0 ($125.0) ($249.8) Non-recurring items ($77.0) $0.0 ($77.0) $0.0 Operating income after special items $151.0 $282.9 $1,087.4 $828.6 Non-operating inc (exp), net ($38.0) $31.6 ($105.7) $71.3 Gain on sale of DC Heath $210.0 $210.0 Income before taxes $323.0 $314.5 $1,191.7 $899.9 Federal and foreign income taxes $100.7 $108.8 $399.2 $303.0 Earnings before special items(2) $217.1 $205.7 5.5% $787.3 $759.2 3.7% Net income after special items $222.3 $205.7 8.1% $792.5 $596.9 32.8% Earnings per share before special items(2) $0.90 $0.80 12.5% $3.23 $2.87 12.5% Earnings per share after special items $0.92 $0.80 15.0% $3.25 $2.26 43.8% Average number of common shares outstanding during period (millions) 241.6 255.8 244.0 264.7 Outstanding common shares at year end (millions) 240.7 246.6 240.7 246.6 Total debt $2,704 $1,058 $2,704 $1,058 Cash and marketable securities $210 $202 $210 $202 Net debt $2,494 $856 $2,494 $856 Net debt to total capitalization 36.7% 17.9% 36.7% 17.9% Total backlog (billions) $10.551 $8.070 $10.551 $8.070 Government-funded backlog (billions) $5.142 $3.641 $5.142 $3.641 Total employees 73,200 60,200 73,200 60,200 (1) Special items excluded are the 1994 restructuring charge of $249.8m, the 1995 special charge of $125m, and 1995 non-recurring items of $77m. (2) Excludes the after tax impact of the special items noted in (1) above as well as the after tax gain on the sale of DC Heath. -0-
Segment Financial Data
Sales
Dollars in Millions 1995 1994 Electronics $5,346 $4,016 Engineering & $2,873 $2,821 Construction Aircraft $2,024 $1,722 Major Appliances $1,473 $1,454 Totals $11,716 $10,013 -0-
Segment Income Segment Income(1)
as a percent of sales
Dollars in Millions 1995 1994 1995 1994 Electronics- Before non-recurring items $844 $680 15.8% 16.9% non-recurring items ($47) After non-recurring items $797 Engineering & Construction $279 $259 9.7% 9.2% Aircraft- Before non-recurring items $272 $233 13.4% 13.5% non-recurring items ($30) After non-recurring items $242 Major Appliances $81 $87 5.5% 6.0% Totals- Before non-recurring items $1,476 $1,259 12.6% 12.6% non-recurring items ($77) Totals- After non-recurring items $1,399 (1) Segment income excludes the effect of special charges of $125m in 1995 and restructuring charges of $249.8m in 1994. -0-
Backlog by Segment
Year End Year End
1995 1994
Electronics $7,411 $5,287 Engineering & Construction $2,240 $1,522 Aircraft $836 $1,203 Major Appliances $64 $58 Total Backlog $10,551 $8,070 U.S. Government Funded $5,142 $3,641 Backlog Included Above-0- RAYTHEON'S HIGHLIGHTS FOR 1995 Raytheon Engineers & Constructors o Raytheon Engineers & Constructors, which does business in some 60 countries around the world, reported record sales, profits and backlog for the year. o Raytheon Engineers & Constructors ended the year with a backlog of $2.2 billion, a 47 percent increase compared with the backlog at the end of 1994. o Assets of Litwin Engineers & Constructors were acquired by Raytheon, significantly increasing Raytheon's presence in the important Houston and Gulf Coast market for hydrocarbons and providing an expanded international presence, including more than 30 years of experience in working in Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. . The total consideration was approximately $58 million. o In power, Raytheon Engineers & Constructors was selected to join a General Electric-led consortium to build a $1.4 billion, 1,200-megawatt power plant in Saudi Arabia Saudi Arabia (sä  `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. , one of the largest power
plants being built in the world today. The Raytheon scope is in excess
of $300 million.o Raytheon was awarded an $88 million contract for the first indigenous turnkey power project in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China under a contract with Tangshan/Sithe Thermal Power Co., Ltd. for a 100-megawatt coal-fired plant near Beijing. o In hydrocarbons, the new 145,000 barrel-per-day Rayong refinery in Thailand achieved ready for start-up status on January 3, 1996, three months ahead of schedule. Raytheon Engineers & Constructors, in a joint venture with Fluor Daniel, has provided engineering, design, procurement, and construction for the new oil refinery under a $1.4 billion contract with a joint venture of Royal Dutch Shell Royal Dutch Shell plc is a multinational oil company of British and Dutch origins. It is one of the largest private sector energy corporations in the world, and one of the six "supermajors" (vertically integrated private sector oil exploration, natural gas, and petroleum product and the Petroleum Authority of Thailand. The complex received Thailand's National Safety Award for Construction. o Raytheon was selected by Air Liquide
A large one-time payment of money. turnkey award is valued at approximately $40 million. o In steel, Raytheon Engineers & Constructors, was selected by BHP Coated Steel Corporation, a subsidiary of Broken Hill Proprietary, Ltd. of Melbourne, Australia, to provide engineering, procurement, and construction services for a major new steel finishing plant in Kalama, Washington Kalama is a city in Cowlitz County, Washington, United States. It is part of the 'Longview, Washington Metropolitan Statistical Area'. The population was 1,783 at the 2000 census. History Kalama was officially incorporated on November 29, 1871. . The total cost of the project is $221 million. Raytheon's contract is valued at more than $100 million. o In operations and maintenance, Raytheon was chosen by the Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control to provide engineering and construction management support of the FAA's Capital Investment Plan over seven years. The value of the contract could reach approximately $875 million if all options are exercised to support the FAA's ongoing modernization program. The award follows a multiyear contract to Raytheon for similar services in 1987. o In equipment and fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , Cedarapids, the construction equipment supply operation of Raytheon Engineers & Constructors, was selected by the U.S. Army Tank-Automotive & Armaments Command to provide rock crushing and screening equipment worth up to $32.8 million over five years. Raytheon Aircraft o Raytheon Aircraft, a world leader in general aviation, had record sales and profits for the year. o Raytheon Aircraft was selected by the U.S. Air Force and U.S. Navy for the next-generation primary trainer, the Joint Primary Aircraft Training System (JPATS JPATS Joint Primary Aircraft Training System JPATS Justice Prisoner and Alien Transportation Service (US Department of Justice) ). The JPATS program, a major win for Raytheon, is planned at $7 billion over more than 20 years. Additionally, there is the potential for significant international sales. o The new Raytheon Premier I light business jet was introduced at the 1995 National Business Aircraft Association annual meeting and convention in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. in September. Designed for comfort, performance and value, first flight is scheduled for the summer of 1997, with FAA certification in the fall of 1998. Initial customer response is strong. o The popular Hawker 800 medium-sized business jet was upgraded as the Hawker 800XP (Extended Performance). The first Hawker upgrade since the program was acquired by Raytheon, the Hawker 800 XP has more powerful engines, improved aerodynamics aerodynamics, study of gases in motion. As the principal application of aerodynamics is the design of aircraft, air is the gas with which the science is most concerned. and an improved cabin environmental system. First delivery was in the fall of 1995. o Raytheon's Beech 1900D Airliner continued to be the most popular 19-passenger regional aircraft in production today. Raytheon delivered 65 of the aircraft in 1995. o Raytheon Aerospace was awarded a U.S. Navy contract for logistics support and aircraft maintenance for 298 T-34C aircraft and 57 T-44A aircraft. The new contract is valued at nearly $60 million for the first year and provides for four one-year options which, if exercised, would bring the total value to approximately $325 million. o Raytheon Aircraft was awarded a $52.8 million contract option from the U.S. Army's Aviation and Troop Command in St. Louis for 14 additional C-12R aircraft, increasing to 29 the total number of C-12 aircraft ordered for U.S. Army Reserve Units. The C-12 series is a militarized mil·i·ta·rize tr.v. mil·i·ta·rized, mil·i·ta·riz·ing, mil·i·ta·riz·es 1. To equip or train for war. 2. To imbue with militarism. 3. To adopt for use by or in the military. version of the Beech King Air B200C jetprop aircraft. Raytheon Appliances o Raytheon Appliances had increased sales while profits were slightly lower due to strong competitive price pressures and higher material costs. o Seventeen appliances, including refrigerators, freezers, wall ovens and cooktops, were rated "Best Buys" by one of the leading consumer buying guides. o Sears began rolling out Amana washers and dryers for sale in its stores throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , supplementing Sears' current line of Amana refrigerators and cooking products. The Sears rollout strengthens Amana's national distribution base, which also includes Circuit City and Montgomery Ward as well as major regional retailers. o New products include entirely new lines of Amana and Caloric caloric /ca·lo·ric/ (kah-lor´ik) pertaining to heat or to calories. ca·lor·ic adj. 1. Of or relating to calories. 2. Of or relating to heat. refrigerators; new smoothtop electric ranges; over-the-range microwave ovens; the Amana Convection Express compact, commercial convection microwave A convection microwave is a combination of a standard microwave oven, and a convection oven. It allows food cooked in the convection microwave to be cooked quickly, yet come out browned or crisped, as in a convection oven. oven; new mirrored-front Euro-style wall ovens under the Amana brand; Amana dishwashers with stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. interiors; and the Amana Prestige line of ultra-high efficiency central air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. systems. In commercial laundry, the 1994 acquisition of UniMac enabled washer-extractors previously sourced by Speed Queen and tumblers For other meanings, see Tumbler. Tumblers were proposed by Ted Nelson in "Literary Machines" as a means to address every bit ever written, or a particular span of bits in any text ever written. A tumbler is a unique numerical address of an interesting artifact. sourced by UniMac to be manufactured in-house. In addition, the Huebsch product line was expanded to include top-load washers, as well as washer-extractors. o Internationally, a new line of Amana appliances specially designed for the European market was displayed at Domotechnica, the world's largest international appliance trade show, held in Cologne, Germany. o Sales and marketing were consolidated for all three commercial laundry equipment brands: Speed Queen, Huebsch and UniMac. o Speed Queen was awarded a U.S. government contract valued at a projected $10.5 million over two years, as the General Services Administration The General Services Administration (GSA) was established by section 101 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C.A. § 751). The GSA sets policy for and manages government property and records. chose Speed Queen home and commercial washers and dryers for use in U.S. government-funded agencies throughout the world. Electronics o In the Electronics segment, sales and profits increased for the year due to the contribution of E-Systems and commercial electronics. Commercial Electronics o In marine electronics, Raytheon completed the acquisition of Anschuetz, one of the world's leading manufacturers of gyro compasses, autopilots, and steering control systems for the merchant shipping market. The Anschuetz product line complements Raytheon's existing marine electronics products, strengthening Raytheon as a leader in integrated bridge electronics technology. o Raytheon introduced Autohelm ST80 state-of-the-art autopilot and instruments for high-end sail and power boats. o Raytheon's Switchcraft operation broadened its product line, by introducing a family of weathertight connectors which will be used by Raytheon's marine electronics operation. The weathertight connectors also open new opportunities in process control markets, supplementing Switchcraft's traditional strength as a supplier of components to audio, video, broadcast and other industries. o Raytheon's Seiscor Technologies, which designs and manufactures telephone transmission equipment, introduced a new version of its S-24DU Digital Loop Carrier In telephone communications, a technology that increases the number of channels in the local loop by converting analog signals to digital and multiplexing them back to the end office. product which handles twice as many telephone subscribers from the same size chassis as its predecessor. o Raytheon's Semiconductor operation, a leader in digital video processing Video processing techniques are used in video codecs, video players and other devices. For example—commonly only design and video processing is different in TV sets of different manufactures. , has compressed into a chip the capability to do broadcast-quality video processing, permitting quick and inexpensive conversion of video signals to a digital format for editing. The operation also introduced a video encoder that converts digital signals to video signals for cable and direct broadcast television boxes. o Raytheon's microelectronics operation has moved to the forefront of space-based technology, with the successful performance demonstration of gallium arsenide-based RF modules for the IRIDIUM iridium (ĭrĭd`ēəm), metallic chemical element; symbol Ir; at. no. 77; at. wt. 192.22; m.p. about 2,410°C;; b.p. about 4,130°C;; sp. gr. 22.55 at 20°C;; valence +3 or +4. (a) satellite communications system In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. . In addition, Raytheon is designing and producing transmit and receive modules under contract from Space Systems/Loral Space Systems/Loral (SS/L), of Palo Alto, California, is the wholly owned manufacturing subsidiary of Loral Space & Communications. It was acquired in 1990 for $715 million by Loral Corp. from Ford Motor Company as the Space Systems Division of Ford Aerospace. for the Globalstar system. o Raytheon introduced four new monolithic microwave integrated circuit MMICs, or Monolithic Microwave Integrated Circuits, are a type of integrated circuit (IC) devices that operate at microwave frequencies (1 GHz to 300 GHz). They typically perform functions such as microwave mixing, power amplification, low noise amplification, and high (MMIC (Monolithic Microwave IC) An integrated circuit used in high-frequency applications such as mobile phones. Also known as "monolithic microwave/millimeter-wave IC," MMICs combine transistors and passive devices (resistors, capacitors, etc. ) products to meet worldwide demand in the Direct Broadcast Satellite (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) market. o In the company's first major entry in the Asian wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. market, Raytheon joined with Communications Technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry Inc. of South Korea in a joint venture to develop, manufacture and sell wireless local area network products and services to the rapidly emerging Korean market. E-Systems o E-Systems, a highly successful intelligence, reconnaissance and surveillance company, was acquired by Raytheon in a transaction valued at approximately $2.3 billion. The acquisition is an important element in Raytheon's commitment to remaining a leader in defense, while being a diversified commercial company. E-Systems brings to Raytheon a strong government and defense electronics operation with complementary skills and programs, and a strong backlog of surveillance, reconnaissance and intelligence programs that have been less sensitive to the decline in defense procurement spending than more traditional equipment programs. E-Systems: Intelligence, Reconnaissance, Surveillance, Specialized Aircraft Modification A change in the physical characteristics of aircraft, accomplished either by a change in production specifications or by alteration of items already produced. o E-Systems has been awarded additional options on the U.S. Navy P-3 Sustained Readiness Program, raising the total contract value so far to $73.3 million. The modification program will extend the operational life of the P-3C maritime patrol Maritime patrol is the task of monitoring areas of water. Generally conducted by military and law enforcement agencies, maritime patrol is usually aimed at identifying human activities. aircraft, with a potential of up to 99 aircraft. o E-Systems and its Australian team members are working on a multiyear contract from the Royal Australian Air Force The Royal Australian Air Force (RAAF) is the Air Force branch of the Australian Defence Force. The RAAF began in March 1914 as the Australian Flying Corps and became a fully independent Air Force in March 1921. to upgrade 18 Australian P-3C aircraft. E-Systems will also provide training, ground processing and logistics support. Total contract value is $440 million. o E-Systems won the ground segment portion of the Tier II Plus High Altitude Conventionally, an altitude above 10,000 meters (33,000 feet). See also altitude. Endurance Unmanned Aerial Vehicle A powered, aerial vehicle that does not carry a human operator, uses aerodynamic forces to provide vehicle lift, can fly autonomously or be piloted remotely, can be expendable or recoverable, and can carry a lethal or nonlethal payload. (HAE-UAV HAE-UAV High Altitude Endurance Unmanned Aerial Vehicle ) program for the Advanced Research Projects Agency (ARPA ARPA - Defense Advanced Research Projects Agency ), to develop an unmanned aerial vehicle capable of 24-hour high-altitude surveillance and reconnaissance, significantly enhancing battlefield knowledge. o E-Systems conducted development and test on electronic components of the HF Active Auroral Research Program (HAARP HAARP High-Frequency Active Auroral Research Program ), which, when completed, will be the largest ionospheric research project in the world. o E-Systems was awarded a contract totaling $20.7 million for development of the next generation electronic intelligence (ELINT Noun 1. ELINT - intelligence derived from electromagnetic radiations from foreign sources (other than radioactive sources) electronics intelligence ) pulse parameterizer. The contract is for one prototype and three production systems. o E-Systems was awarded a contract valued at more than $18 million for the refurbishment, modification and refielding of two Joint Service Imagery Processing Systems (JSIPS JSIPS Joint Service Imagery Processing System ). The program was awarded by the U.S. Air Force Electronic Systems Center, Hanscom AFB AFB abbr. acid-fast bacillus AFB Acid-fast bacillus, also 1. Aflatoxin B 2. Aorto-femoral bypass , Mass. E-Systems will also refurbish and upgrade hardware and software for the U.S. Marine Corps JSIPS. JSIPS provides the field commander with rapid access to imagery intelligence Intelligence derived from the exploitation of collection by visual photography, infrared sensors, lasers, electro-optics, and radar sensors such as synthetic aperture radar wherein images of objects are reproduced optically or electronically on film, electronic display devices, or other to support timely decisions concerning battlefield strategies and tactics. E-Systems: C4I C4I Command, Control, Communications, Computers, & Intelligence (US DoD) C4I Command Control Communications Computer and Intelligence and Countermeasures o E-Systems was awarded an additional $25 million to continue the engineering and manufacturing development (EMD EMD Electromechanical dissociation, see there ) phase of the U.S. Navy's Cooperative Engagement Capability (CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. ) program. The CEC system networks information from every ship in a battle group to extend defense perimeters and vastly improve reaction time. The EMD contract value now exceeds $420 million. o Raytheon's Goleta, California “Goleta” redirects here. For the genus of jumping spiders, see Goleta (spider). Goleta (IPA: /ɡəʊleta/ in English or /ɡolɛta/ in Spanish) is a city located in southern Santa Barbara County, California, USA. , electronic warfare operation was combined with E-Systems. The Goleta operation has a proven track record in active electronic defense systems. Combining that organization with E-Systems unsurpassed capability in reconnaissance and surveillance systems has created one of the strongest, most competitive electronic combat systems organizations in the world. o The U.S. Air Force awarded the Goleta operation a letter contract for nearly $106 million for 82 AN/ALQ-184 electronic countermeasures pods, training and support equipment for Taiwan's F-16 aircraft. The award enables Raytheon to make the most of its strong position with respect to sales to other international customers. Taiwan selected Raytheon to furnish the pods in 1994. o E-Systems Goleta was awarded a contract to restore the first three of an estimated 50 AN/SLQ-32 U.S. Navy shipboard ship·board n. 1. The condition of being aboard a ship: on shipboard. 2. Archaic The side of a ship. adj. jamming systems. o In 1995, the Navy awarded E-Systems Goleta contracts for 500 ALE-50 towed decoys and other deliverables for F/A-18 and other aircraft. o E-Systems was selected as one of two winners in the Airborne Stand-off Radar program competition conducted by the United Kingdom. The award represents a 17-month "project definition" study prior to competing for the full-scale development and production phase of the program. E-Systems: Technology Diversification and Conversion o During the year, E-Systems completed a series of flight tests with the FAA and NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. that demonstrated that global positioning technology, coupled with kinematic kin·e·mat·ics n. (used with a sing. verb) The branch of mechanics that studies the motion of a body or a system of bodies without consideration given to its mass or the forces acting on it. carrier phase tracking technology, meets the stringent accuracy and safety requirements for landing in zero visibility conditions. This demonstration contributes to setting the direction for selecting the next-generation landing system to replace the present-day Instrument Landing Systems used worldwide. o E-Systems was awarded a contract from the Boston Veterans Administration to connect departments throughout the Boston VA medical establishment with an affordable Picture Archiving & Communications System (PACS (Picture ArChiving System) A storage and management system for high-resolution images. Typically pertaining to the medical field, images such as X-rays, MRIs and CAT scans require a greater amount of storage than other industries. ) that makes digitized medical images, such as x-rays, available throughout the network. o E-Systems delivered a National Student Loan Data System, serving and tracking more than 28 million students, 8,000 schools, and 40 state agencies, and providing the Department of Education with an improved stewardship of some 70 million loans. o E-Systems Transportation Management Solutions won contract awards to supply automatic vehicle location See mobile positioning. systems to several urban transit authorities, including those of Des Moines, Detroit and Atlanta. Raytheon Electronic Systems (RES) o Raytheon Electronic Systems was formed through the consolidation of Missile Systems Division and Equipment Division. o During 1995, Raytheon's Massachusetts-based defense operations experienced declines in sales and profits, however the rate of decline was not as great as in prior years. o Working with its employees and other manufacturers and business organizations and with state government in Massachusetts, Raytheon Electronic Systems successfully implemented a series of management, workforce and legislative initiatives to enable the company to remain competitive in defense manufacturing in Massachusetts, and thereby preserve as many manufacturing jobs as possible in the Bay State. Raytheon Electronic Systems: Missile and Air Defense Systems o Raytheon Electronic Systems received a number of Patriot-related awards during the year, including two year-end contracts totaling $227 million for the Patriot air defense system. The U.S. Army Missile Command and the Ballistic Missile Defense Organization Noun 1. Ballistic Missile Defense Organization - an agency in the Department of Defense that is responsible for making ballistic missile defense a reality BMDO awarded Raytheon a contract valued at $123 million to produce 16 Patriot Advanced Capability-3 (PAC-3) radar upgrade kits. In addition, the U.S. Army Missile Command awarded Raytheon a contract valued at $104 million for engineering services in support of Patriot air defense system inventories through January 1997. o In July, Raytheon's first demonstration/validation ground based radar, a sophisticated phased array radar manufactured in Raytheon Electronic Systems' Waltham, Mass., plant, for the Theater High-Altitude Area Defense (THAAD THAAD Terminal High-Altitude Area Defense (formerly Theater High Altitude Area Defense) THAAD Theater High Altitude Area Defense (now Terminal High-Altitude Area Defense) ) program, was shipped to White Sands, N.M., for initial testing. o During the year, Raytheon rolled out the first production Patriot Guidance Enhancement Missile, which improves the system's performance against tactical ballistic missiles. o A joint venture of Raytheon Company and Hughes Aircraft Company, called H&R Company, was selected as a winner of a competition by the U.S. Army for the program definition/validation phase of a major new air defense system. Two U.S. teams were selected. Each has been paired with a European counterpart team to perform the first phase of the Medium Extended Air Defense System Medium Extended Air Defense System (MEADS) is a military project intended to replace aging NATO Patriot missiles. The USA, Germany and Italy are contributing toward the project. France, though initially in the project, withdrew some time ago. (MEADS) program. Under the multilateral program agreement, one team will be selected in 1999 to continue under a design and development phase contract. Officials of the joint venture expect the U.S. and European MEADS program to have a potential value of more than $3 billion. Raytheon Electronic Systems: Air-to-Air and Strike Systems o Raytheon Electronic Systems was awarded a competitive contract for $165.7 million for 604 Advanced Medium Range Air-to-Air Missiles (AMRAAM AMRAAM Advanced Medium-Range Air-to-Air Missile ), representing 57 percent of the missiles to be acquired by the Air Force in 1995. In 1994, Raytheon also won the larger number of missiles to be produced in the highly competitive procurement. o Raytheon Electronic Systems continued to work on a $24.9 million demonstration and validation contract for the next-generation Sidewinder sidewinder, common name for a rattlesnake, Crotalus cerastes, found in the deserts of the SW United States. This 2-ft (60-cm), pale yellow and pink snake is named for its curious method of locomotion. short- range, air-to-air missile called the AIM-9X. RES was one of two contractors to be selected for the initial development awards. One contractor will be chosen in 1996 to continue the program. o The U.S. Navy awarded a $20 million contract to Raytheon Electronic Systems to produce 3,200 active optical target detector (AOTD AOTD Art of the Drink (Instructional bartending videos) AOTD Art of Technology Digest AOTD Aces of the Deep (gaming clan) AOTD Active Optical Target Detector AOTD Avatar of the Day ) devices for the AIM-9M Sidewinder missile. The AOTD is a laser proximity fuze which provides a signal to detonate det·o·nate intr. & tr.v. det·o·nat·ed, det·o·nat·ing, det·o·nates To explode or cause to explode. [Latin d the warhead of the missile at its prescribed distance from the target. o The U.S. Army followed up the 1994 selection of Raytheon Electronic Systems for the Enhanced Fiber Optic Guided Missile (EFOGM EFOGM Enhanced Fiber-Optic Guided Missile ) Demonstration Program with an initial contract for $39.5 million early in 1995 and a follow-on contract for $51.6 million near year-end. EFOGM will provide a non-line of sight (out to 15 km) precision standoff weapon against armor and helicopters during day, night and adverse weather conditions. o Raytheon Electronic Systems successfully demonstrated the Joint Precision Strike Demonstration facility being developed under contract to the U.S. Army to simulate and analyze strike weapons. Raytheon Electronic Systems: Naval Systems and Training Systems o Hughes and Raytheon signed an operating agreement in May 1995 establishing Standard Missile Company, which is responsible for all aspects of Standard Missile design, engineering, production and depot level maintenance. During 1995, Raytheon Electronic Systems received contracts from the Standard Missile Company for engineering support and Standard Missile production. o Raytheon Electronics Systems was awarded a $51 million contract under the Mk-57 NATO NATO: see North Atlantic Treaty Organization. NATO in full North Atlantic Treaty Organization International military alliance created to defend western Europe against a possible Soviet invasion. Seasparrow computer re-architecture program. o Raytheon continued to provide a variety of shipboard systems for the Arleigh Burke-class destroyers, including Aegis AN/SPY-1D transmitters and Mk 99 fire control units. In 1995, contracts totaling $43.5 million were received for two new ship systems. o Raytheon Electronic Systems was awarded a $74 million contract for engineering and manufacturing development of the Joint Tactical Combat Training System, a joint U.S. Navy and Air Force effort to develop and procure tactical training range systems for both shore-based and deployed tactical training. The contract includes options which, if fully exercised, would bring the total value to more than $200 million. Raytheon Electronic Systems: Technology Diversification and Conversion o The Royal Australian Air Force selected Raytheon to supply a new air traffic control (ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered ) system for the Australian Defense Air Traffic System project. The contract, won against stiff international competition, was signed in November for $113.6 million. o The Swiss Air Navigation Services Limited awarded a $5.5 million contract for two air traffic control primary radars to Raytheon Electronic Systems' subsidiary in Canada, Raytheon Canada Limited. The contract calls for two of Raytheon's latest generation air-cooled, all solid-state primary surveillance radars for the Zurich and Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. airports. o Raytheon Electronic Systems successfully fulfilled the requirements of the Federal Aviation Administration's Operational Capability Demonstration to qualify to bid on the FAA's Standard Terminal Automation Replacement System The Standard Terminal Automation Replacement System (STARS) is an air traffic control automation system currently being used in many busier TRACONs around the United States. (STARS) program. The STARS program will modernize and upgrade more than 240 sites, called Terminal Radar Approach Control Systems, serving civilian and military installations. The modernization program, valued at over $1 billion, will replace aging terminal automation equipment. o Raytheon Electronic Systems received a $34 million contract to deliver 1,541 console display generators for the current Display System Replacement Program. The displays are a commercial off-the-shelf product developed by Raytheon for installation in ATC centers across the United States. o Installation and commissioning of Raytheon-built Terminal Doppler Weather Radars (TDWRs) continued at airports across the United States. TDWR TDWR Terminal Doppler Weather Radar TDWR Texas Department of Water Resources is designed to detect hazardous weather and wind shear near U.S. airports. Raytheon has manufactured 47 of the systems for the FAA, and is building a system for Hong Kong's new airport at Chek Lap Kok Chek Lap Kok is an island in the western waters of Hong Kong, China. Chek Lap Kok was one of the two islands (the other being Lam Chau) merged together via land reclamation techniques into to the 12.48 km² platform for the current Hong Kong International Airport. . o A Field Emissions Display Consortium led by Raytheon and Texas Instruments received an award under a cost-shared agreement to develop the next generation of field emissions display technology. The $25 million program includes a $14.3 million investment from industry and $11.2 million from the government. o Raytheon delivered the first main mission satellite antenna system as part of the IRIDIUM (R) global, wireless communications network. The satellite network will consist of 66 IRIDIUM satellites as well as spares, all of which will have a total of almost 30,000 transceiver modules based on gallium arsenide monolithic microwave integrated circuit technology. Total revenue potential for Raytheon on the IRIDIUM program is in excess of $300 million. o A groundbreaking ceremony was held in August at Raytheon's Marlborough, Mass., facility to initiate the construction of a Personal Rapid Transit Personal rapid transit (PRT), also called personal automated transport (PAT) or podcar is a public transportation concept that offers automated on-demand non-stop transportation, on a network of specially-built guideways. system test track. A 2000-foot test guideway will be built to handle three prototype vehicles which will be tested during 1996 to demonstrate the capabilities of the system currently under design to provide a convenient, alternative form of urban transportation. Raytheon won a contract from the Regional Transportation Authority of Northeastern Illinois to build a demonstration system. An exhibit of a PRT PRT Print PRT Port PRT Portugal (ISO country code) PRT Printer PRT Provincial Reconstruction Team (Iraq) PRT Personal Rapid Transit PRT Personal Rapid Transit station and vehicle was held at the convention center in Rosemont, Illinois, anticipated site for the first PRT installation. -0- (a) IRIDIUM is a registered trademark and service mark of Iridium Inc. CONTACT: Raytheon, Lexington Ed Powers, 617/860-2415 |
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