Word: raytheon
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This vision of the future is not science fiction but a serious project announced this week by Raytheon Manufacturing Co., maker of all types of radar. Raytheon believes it has achieved the longtime dream of engineers: the transmission of electrical power by radio waves...
...rise was equally strong in many a company that kept growing despite the recession. Raytheon Manufacturing noted a backlog of $280 million in unfilled orders, reported that a fat fourth quarter pushed 1958 earnings to $3.08 per share and a new record, 95% better than last year. Westinghouse. whose sales declined 5.6% largely because of the slump in appliances, had a better-than-good year: by working hard on a cost-control program, it managed to boost earnings to $4.25 per share v. $4.18 last year...
Wall Street is well aware of electronics' rapid growth, pays as much as 40 and 50 times earnings for what it calls "Buck Rogers stocks." Eager buyers this year boosted Texas Instruments from 26¾ to 86, Raytheon from 22 to 62⅝, Fairchild Camera from 18⅞ to 64¾, General Transistor from 17 to 51. But to many Wall Streeters, even such high prices seem cheap when sales and earnings are zooming. Explains one broker: "Current earnings are already past history. If you want to participate in growth, you have...
General Electric $58.6 $55.2 Raytheon Mfg. 2.5 1.0 Underwood Corp. .9 (loss) .2 IBM 40.9 22.3 (inclduing non-recurring $14 million capital gain...
Keep It Fluid. While it was changjng its pace, Raytheon really went after military contracts, now does 80% of its business with the Government. It is the only U.S. electronics firm with prime contracts for two mass-production missiles (the Army's ground-to-air Hawk and the Navy's air-to-air Sparrow III), is subcontractor for electronic devices for twelve other missiles and for equipment for the 6-52 and the 6-58. It is also manufacturing transistors, and their successor spa-cistors, for everything from field radios to satellite innards, hopes to raise...