Raytheon Company announced consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales of $6,143 million against $5,870 million a year ago. Operating income was $869 million against $709 million a year ago. Income from continuing operations before taxes was $818 million against $669 million a year ago. Income from continuing operations was $580 million or $1.86 per basic and diluted share against $469 million or $1.46 per basic and diluted share a year ago. Net income attributable to the company was $582 million or $1.88 per basic and diluted share against $531 million or $1.66 per basic and diluted share a year ago. Net operating cash flow from continuing operations was $829 million against $1,106 million a year ago. Capital spending was $153 million against $115 million a year ago. Adjusted EPS was $1.71 against $1.58 a year ago. Adjusted income was $530 million against $506 million a year ago.

For the year, the company reported net sales of $22,826 million against $23,706 million a year ago. Operating income was $3,179 million against $2,938 million a year ago. Income from continuing operations before taxes was $2,983 million against $2,757 million a year ago. Income from continuing operations was $2,193 million or $6.97 per diluted share against $1,949 million or $5.96 per diluted share a year ago. Net income attributable to the company was $2,244 million or $7.18 per diluted share against $1,996 million or $6.16 per diluted share a year ago. Net operating cash flow from continuing operations was $2,064 million against $2,382 million a year ago. Capital spending was $326 million against $280 million a year ago. Adjusted EPS was $6.12 against $6.38 a year ago. Adjusted income was $1,913 million against $2,069 million a year ago.

For the year of 2015, the company expects diluted EPS from continuing operations attributable to the company common stockholders is $6.20 to $6.35. Adjusted EPS expects to be in the range of $5.49 to $5.64. Effective tax rate will be Approx. 27.5%. Net sales expected to be in the range of $22.3 billion to $22.8 billion. Operating cash flow from continuing operations expects to be in the range of $2.3 billion to $2.6 billion. Net interest expense expected to be between $225 million to $235 million.