Raytheon has reported a massive fourth quarter profit increase of 84 percent, fuelled by increased sales of combat systems and a tax gain.

Continuing operation profit rose to US$634m, up from US$344m in the same period last year.

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Sales increased 7.9 percent to US$6bn.

Raytheon says including the loss from discontinued operations, such as the sale of its flight operations unit in October, net income rose to US$598m from US$365m in the previous year.

In the fourth quarter, Raytheon recorded a US$214m tax refund dating from 1984 to 1990.

By Elizabeth Clifford-Marsh

GlobalData Strategic Intelligence

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Nominations are now closed for the Army Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact across the defence sector.

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SMARTSHOOTER’s SMASH AI-enabled fire control systems are turning standard rifles into precision counter drone and small arms platforms. Discover how SMASH is redefining dismounted force protection, accuracy, and ethical AI use on today’s battlefield and why it has won the Innovation award.

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