Defense contractor Raytheon Co reported higher per-share earnings on Thursday as it bought back shares and saw growth in training programs provided for the U.S. Army.
Net income was $445 million, or $1.16 a diluted share, compared with $452 million, or $1.12 a share, in the year-earlier first quarter.
Per-share results were aided by a lower share count as the company bought back 5.5 million shares during the quarter.
Adjusted for pension expense, profit came to $1.27 a share, the company said.
Sales rose 3 percent to $6.05 billion, compared with $6.16 billion expected by analysts.
The maker of missiles and radar systems stood by a prior forecast calling for earnings from continuing operations of $4.75 to $4.90 for this year.
(Reporting by Karen Jacobs; Editing by Derek Caney)