Raytheon Reports Sales Growth

Raytheon said today sales in its most recent quarter grew nearly 3 percent to hit $5.8 billion.

Profit, however, fell to $505 million, down from $551 million in the same three-month period a year earlier.

The contractor's sales were buoyed by its integrated defense systems unit, which saw higher sales on international Patriot programs.

Tom Kennedy, Raytheon's chief executive, told analysts during a call this morning the company has bolstered its international sales. At the end of the most recent quarter, about 44 percent of the company's backlog was international sales, up from 38 percent at the same time last year.