Raytheon SEC probe focuses on Beech 900D

 - October 8, 2007, 5:24 AM

RAYTHEON SEC PROBE FOCUSES ON BEECH 1900D
•    The Securities and Exchange Commission probe of Raytheon’s commuter aircraft (Beech 1900D) accounting methods disclosed earlier this year was upgraded last month from an initial inquiry to a formal investigation. The investigation is focusing on changes in revenue recognition procedures for this product line dating back to 1997. The company wouldn’t comment beyond saying it is “continuing to cooperate fully with the SEC’s inquiry.” But Raytheon CEO William Swanson is already on record as saying its Raytheon Aircraft unit is a “non core” business and speculation has resurfaced that the unit is again on the block.