[SatNews] Raytheon Company (NYSE: RTN) announced third quarter 2011 Adjusted EPS of $1.39 per diluted share compared to $1.35 per diluted share in the third quarter 2010.

Third quarter 2011 EPS from continuing operations was $1.43 compared to $1.71 in the third quarter 2010, a difference of $0.28. The change was primarily due to the net change of $0.28 per diluted share in tax settlements year-over-year. Third quarter 2011 included a favorable tax settlement of $60 million or $0.17 per diluted share compared to a favorable tax settlement of $170 million or $0.45 per diluted share in the third quarter 2010. Third quarter 2011 also included an unfavorable FAS/CAS Adjustment(1) of $0.14, compared to an unfavorable FAS/CAS Adjustment(1) of $0.09 in the third quarter 2010. Net sales for the third quarter 2011 were $6,132 million, compared to $6,272 million in the third quarter 2010. The Company reported strong bookings for the third quarter 2011 of $6,884 million compared to $6,038 million in the third quarter 2010, resulting in a book-to-bill ratio of 1.12.

"Our continued focus on delivering affordable and innovative solutions to our customers is highlighted by robust third quarter bookings," said William H. Swanson, Raytheon's Chairman and CEO. "Solid execution and cost reduction efforts drove strong operating margin and cash flow performance in the quarter." To read the entire financial report, access this direct link.