Raytheon doing well out of war - arms sales up!

Raytheon profits: We pay!

Raytheon, L-3, Alliant Profits Rise on Demand From Iraq War
Bloomberg - USA Jan 31 (Bloomberg) -- US defense companies Raytheon Co., L-3 Communications Holdings Inc. and Alliant Techsystems Inc. said profit rose more than analysts' ...

U.S. defense companies Raytheon Co., L-3 Communications Holdings Inc. and Alliant Techsystems Inc. said profit rose more than analysts' projected and boosted forecasts as the Iraq war lifted sales of combat systems and services.

Raytheon, the world's largest missile maker, said a tax gain and rising revenue lifted profit from continuing operations 84 percent to $634 million, or $1.45 a share. L-3, the biggest provider of translators to the U.S. Army, said net income gained 19 percent, while Alliant, the largest maker of bullets for M-16 rifles, said earnings rose 14 percent. War funding is benefiting all three companies as the U.S. spends $12 billion a month in Iraq and Afghanistan. President George W. Bush will request $70 billion more for the wars in his fiscal 2009 budget to Congress next week. Raytheon is the last of the five top U.S. defense contractors to report profit for the just-ended quarter, with all meeting or surpassing analysts' projections.

UPDATE 1-Raytheon profit up on arms sales, raises forecast
Reuters - NEW YORK, Jan 31 (Reuters) - Raytheon (RTN.N: Quote, Profile, Research) said on Thursday fourth-quarter profit rose 64 percent, helped by higher sales of

MoD denies combat training is being cut Feb 1 2008. The Guardian today says...The army and marines are so stretched that exercises and what defence sources call "non-essential training" are being scrapped. However, the Ministry of Defence yesterday denied a report that combat training for new recruits bound for Afghanistan was being cut by half.

Ministry of Defence Annual Report and Accounts 2006-07 HC 61 on Monday 28 January 2008.

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