Raytheon Company announced preliminary earnings results for the fourth quarter and twelve months ended December 31, 2017. For the quarter, the company reported net sales of $6,783 million compared to $6,279 million a year ago. Operating income was $870 million compared to $880 million a year ago. Income from continuing operations before taxes was $834 million compared to $825 million a year ago. Income from continuing operations was $387 million or $1.35 per basic and diluted share compared to $553 million or $1.87 per diluted share a year ago. Net income attributable to the company was $393 million or $1.35 per basic and diluted share compared to $555 million or $1.88 per basic and diluted share a year ago. Adjusted operating income was $230 million. On pro forma basis, the company's net sales of $6,783 million, operating income of $1,100 million and income from continuing operations before taxes of $834 million.

For the twelve months, the company reported net sales of $25,348 million compared to $24,124 million a year ago. Operating income was $3,318 million compared to $3,295 million a year ago. Income from continuing operations before taxes was $3,113 million compared to $3,085 million a year ago. Income from continuing operations was $1,999 million or $6.94 per diluted share compared to $2,212 million or $7.55 per basic and diluted share a year ago. Net income attributable to the company was $2,024 million or $6.95 per diluted share compared to $2,244 million or $7.55 per diluted share a year ago. Net cash provided by operating activities was $2,745 million compared to $2,852 million a year ago. Additions to property, plant and equipment were $543 million compared to $561 million a year ago. Adjusted operating income was $913 million compared to $601 million a year ago. On pro forma basis, the company's net sales of $25,348 million, operating income of $4,231 million and income from continuing operations before taxes of $3,113 million compared to net sales of $24,124 million, operating income of $3,896 million and income from continuing operations before taxes of $3,085 million a year ago.

The company provided earnings guidance for the full year 2018. For the year, the company expects net sales is to be in the range of $26.4 billion to $26.9 billion, interest expense is to be in the range of $180 million to $185 million, effective tax rate of approximately 19.0%, EPS from continuing operations is to be in the range of $9.55 to $9.75 and operating cash flow from continuing operations is to be in the range of $3.6 billion to $4.0 billion.