4. Raytheon engages in providing defense-related products and services. The company addresses the U.S. and international markets, offering integrated defense systems (IDS), missile systems, space airborne systems (SAS), and intelligence and information systems (IIS). Earnings per share for the third quarter zoomed 9% to $1.36, driven by operational efficiency. Operating margins improved 60 basis points from the year-earlier quarter to 12.9%. Reviewing the results, Raytheon's CEO William H. Swanson said, "Strong program performance and cost-reduction activities drove operating margins and earnings for the quarter." However, third-quarter net sales came in flat at $6.3 billion, compared to $6.2 billion during the same quarter last year. Revenue and operating income from SAS and technical services segments scaled up 10% and 20%, respectively. In comparison, IIS and IDS were lackluster. The stock is trading at seven to eight times its 2011 earnings.