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4-Traders Homepage  >  Equities  >  Nyse  >  Raytheon Company    RTN

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Raytheon : Air-traffic contractor meeting held

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12/06/2016 | 06:54pm CET

Hong Kong's Information Services Department -- Director-General of Civil Aviation Simon Li today met the senior management of Raytheon Company, the contractor of the new Air Traffic Management System.

The meeting was held to follow up on the occurrence last week involving the system's Flight Data Processors, sub-system, and the system optimisation work at the initial stage of the commissioning.

Raytheon's Programme Manager Anthony Keane, Senior Principal Software Engineer David Maunder and Senior Principal Systems Engineer Thomas Richards attended the meeting at the request of the Civil Aviation Department.

Mr Li instructed Raytheon to implement the proposed permanent fix to address the incident as soon as possible, to prevent recurrence of momentary disassociation of flight plans when the two processors carry out data synchronisation.

Raytheon has undertaken to make the fix available by next week, which will then be tested in accordance with the International Civil Aviation Organisation safety management process.

It also agreed to carefully review the issues identified since the new system's commissioning and its overall operations, and to conduct a comprehensive assessment to identify ways to speed up the optimisation of the system.

The two sides will hold regular meetings and teleconferences and the company will take follow-up actions in a timely manner.

It will also co-operate with the expert panel formed by the department to rectify the new system's teething issues.

.

(c) 2016 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials ($)
Sales 2016 24 426 M
EBIT 2016 3 235 M
Net income 2016 2 213 M
Debt 2016 2 278 M
Yield 2016 1,95%
P/E ratio 2016 20,01
P/E ratio 2017 19,96
EV / Sales 2016 1,89x
EV / Sales 2017 1,80x
Capitalization 43 789 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 160 $
Spread / Average Target 7,4%
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NameTitle
Thomas A. Kennedy Chairman & Chief Executive Officer
Anthony F. O'Brien Chief Financial Officer & Vice President
Kevin Neifert Chief Information Officer
Michael C. Ruettgers Independent Director
William R. Spivey Independent Director
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