WASHINGTON - Raytheon Co. said Thursday profit rose in the third quarter on increased demand for the defense contractor's Patriot missile by foreign governments concerned about potential threats from other countries, and for its soldier training programs.

The company, whose products include missiles, sensors and radar systems, lifted its earnings guidance range for the rest of the year, but offered an outlook for 2010 weaker than Wall Street's forecast.

While the 2010 forecast was below analysts' estimates, it didn't seem to concern investors. Raytheon appears poised to be on track for a solid performance this year, and beyond, as international sales drive growth. International sales hit a record in the quarter and the company anticipates that in 2009, sales outside of the U.S. will rise as much as 22 percent above last year's level, the company said during a conference call with investors and analysts.

Raytheon employs about 8,000 people in El Segundo at its Space and Airborne Systems sector.

In the third quarter, Raytheon's net income rose 15 percent to $490 million, or $1.25 per share, from $427 million, or $1.01 per share, a year earlier. Earnings from continuing operations, which include operations in which the company has a minority stake, rose to $499 million from $437 million.

Originally published by From news services.

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