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The American Appliance Company was founded.


Raytheon had grown to become one of the world's largest vacuum tube manufacturing companies.


Raytheon received a contract to build magnetrons, a radar device used to detect enemy aircraft.


Raytheon's Percy Spencer invented the microwave oven by discovering that the magnetron could rapidly heat food.


Raytheon began manufacturing transistors priced and marketed to hobbyists.


British electronics company A.C. Cossor merged with Raytheon.


Saudi Arabia signed business deals worth billions with U.S. arms producers.

Raytheon (RTN - Get Report)  beat earning's estimates on Thursday, Jan.31, 2019. London Bureau Chief Martin Baccardax breaks it down here: Raytheon Beats Q4 Earnings Estimate; Weaker Guidance Hits Defense Group Shares.

CEO Tom Kennedy says "Raytheon had a very successful year in 2018. We accelerated our sales growth yet again and achieved a new company record for operating cash flow," said Kennedy. "We ended the year with record bookings and backlog which positions us well for 2019 and beyond."

Raytheon is a holding in Jim Cramer's Action Alerts PLUS member club. Read what Jim Cramer and the AAP Team have to say about the mixed results by signing up here.

Today, the global technology company specializes in defense, civil government and cybersecurity solutions. But, that wasn't always the story. Watch the video above for a look Behind the Label, TheStreet's new video series. 

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