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Raytheon Co RTN
Q1 2013 Earnings Call Transcript

Transcript Call Date 04/25/2013

Operator: Good day, ladies and gentlemen, and welcome to the Raytheon First Quarter 2013 Earnings Conference Call. My name is Chantele, and I'll be your facilitator for today call. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session towards the end of this conference. As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the conference over to your host for today, Mr. Todd Ernst, Vice President of Investor Relations, and you have the floor, sir.

Todd Ernst - VP, IR: Thank you, Chantele. Good morning, everyone. Thank you for joining us today on our first quarter conference call. The results that we announced this morning, the audio feed of the call, and the slides we'll reference are available on our website at raytheon.com. Following this morning's call, an archive of both the audio replay and a printable version of the slides will be available in the Investor Relations section of our website.

With me today are Bill Swanson, our Chairman and Chief Executive Officer and Dave Wajsgras, our Chief Financial Officer. We'll start with some brief remarks by Bill and Dave, and then move on to questions.

Before I turn the call over to Bill, I'd like to caution you regarding our forward-looking statements. Any matters discussed today that are not historical facts, particularly comments regarding the Company's future plans, objectives, and expected performance constitute forward-looking statements. These statements are based on a wide range of assumptions that the Company believes are reasonable, but are subject to a range of uncertainties and risks that are summarized at the end of our earnings release and are discussed in detail in our SEC filings.

With that, I'll turn the call over to Bill.

William H. Swanson - Chairman and CEO: Thank you, Todd. Good morning, everyone. Before I discuss our first quarter results I wanted to say a few words about last week's tragedy at the Boston Marathon. Monday April 15 wasn’t just the day of the Marathon, it was the day we celebrated Patriot's Day in Massachusetts. A holiday commemorating the first battles of the American Revolution in 1775 and made famous by the ride of Paul Revere. It’s a day of immense civic pride in community and spirit and energy that pervade is many annual events are a unique part of what it is to be from Boston and Massachusetts.

Raytheon's been part of this community here since our founding over 90 years ago. While our offices and operations were not impacted. We have more than 12,000 employees in the state, including some who participated in the Boston Marathon as runners, volunteers and spectators. In fact, one of our local employees was at the finish line and seriously injured in the attack. So, for us, this hit very close to home. Our thoughts and prayers are with all the victims and their families and all of those who were affected. I would like to thank the first responders for their swift and heroic efforts that saved many lives. I also want to thank our hospitals and medical professionals for their truly amazing work. The Boston area is blessed with some of the world's best hospitals and this has never been more evident in the past few days. We are proud of Boston's Mayor Menino, Governor Patrick, local and state officials as well as Federal Government for their leadership and efforts in the aftermath of this incident.

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