Raytheon: 50% sales hike possible by 2011

Raytheon Co. aims to raise annual global revenue by 50 percent to $30 billion by 2011, up from last year’s $20.3 billion, a senior executive said.

‘‘A lot of countries are looking at modernizing and recapitalizing their legacy defense forces as their economies mature and enter the 21st century. We’d like to be part of that ... ’’ Asia president Walter Doran told Dow Jones Newswires.

He said a growing part of Waltham-based Raytheon’s revenue would come from outside the United States.

Operations in Asia, Europe, and the Middle East last year contributed 19 percent, or $3.9 billion, of total sales. Doran said that’s expected to rise to about $7.5 billion, or 25 percent of the $30 billion global revenue he sees in 2011.

A Raytheon spokeswoman said the figures ‘‘do not represent formal Raytheon financial guidance'' but were based on informal extrapolations of historical data. Raytheon has not provided financial guidance beyond 2007, she said.

Doran said a large part of Raytheon’s growth would come from Asia, ‘‘a region that is very much in change.’’

He said a growing issue in the region is maintaining maritime security against the threats of terrorism and piracy.

Raytheon, which makes Patriot and Tomahawk missiles, also makes radar, communications, and surveillance systems.
(Dow Jones)