ADVFN - Advanced Financial Network.
HOME» NYSE » L » LMT Stock Price » LMT Stock News

Lockheed Martin Share News

 Lockheed Martin Corp. Stock Price
LMT Stock Price
 Lockheed Martin Corp. Stock Chart
LMT Stock Chart
 Lockheed Martin Corp. Stock News
LMT Stock News
 Lockheed Martin Corp. Company Information
LMT Company Information
 Lockheed Martin Corp. Stock Trades
LMT Stock Trades

Lockheed Martin 4Q Net Down 29% On Charges, Lower Revenue

DOW JONES NEWSWIRES Lockheed Martin Corp.'s (LMT) fourth-quarter income dropped 29% as the defense contractor posted a handful of special charges, as well as weaker results from its space systems and electronics systems businesses. U.S. defense contractors have struggled to define the future size and shape of their operations due to uncertainty over Pentagon budget cuts. Lockheed Martin, the largest in its sector by sales, is viewed as one of the most vulnerable to cuts because of its role in large projects, and last year said it would cut thousands of jobs amid the belt-tightening. The sector's efforts to boost overseas sales continue. Last month, Japan selected Lockheed to provide its F-35 Joint Strike Fighter as the country's next-generation fleet. The contract was valued at about $4 billion, one of the world's largest military contracts last year. Lockheed Martin also has seen sales and interest in its products from the Middle East increase due to increased nervousness about Iran's nuclear program and in the wake of the Libyan conflict. Lockheed Martin posted a profit of $683 million, or $2.09 a share, down from $961 million, or $2.67 a share, a year earlier. The latest results included a charge of 20 cents related to pensions, 11 cents less research and development tax credits from the year earlier and 9 cents from early debt extinguishment costs. The year earlier period included 8 cents in consolidation costs. Earnings from continuing operations fell to $2.14 from $2.28 cents. Revenue fell 4.3% to $12.21 billion. Analysts surveyed by Thomson Reuters expected earnings of $1.94 a share on revenue of $12.31 billion. Gross margin edged down to 8.1% from 8.3%. In the aeronautics segment, profit rose 11% as revenue increased 0.7%. Sales at the electronics-systems business sank 7.8% while earnings slipped 12%. The information systems and global solutions unit saw revenue decline 3.5% but earnings were up 28%. Space systems revenue fell 7.4% and earnings shrank 7.5%. The company forecast 2012 earnings of $7.70 to $7.90 on sales of $45 billion to $46 billion. Analysts expected a profit of $7.77 on revenue of $46.2 billion. Shares of Lockheed Martin closed Wednesday at $81.73 and were inactive premarket. The stock has risen 7.1% over the past three months. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com;

Stock News for Lockheed Martin (LMT)
DateTimeHeadline
07/15/201417:04:43Safety Concerns Force Cancellation of F-35's Air Show Appearance
07/10/201410:39:21Makers of F-35 Combat Jets to Help Keep Cost of Fighter Plane...
06/18/201411:54:45United Launch CEO Confident on Russian Engine Deliveries
06/16/201408:32:38Airbus, Safran to Combine Space-Launcher Activities -- Update
06/12/201420:07:26Pentagon Looks to Lower Costs of F-35 Joint Strike Fighter Program...
06/12/201419:51:35Pentagon Looks to Lower Costs of F-35 Joint Strike Fighter Program
06/11/201420:43:57Iraqi, U.S. Forces Trade Barbs Over Failures
06/11/201416:50:17Iraq Requests Accelerated Shipment of U.S. Arms to Counter Militants
06/05/201417:40:10Canada Near $8.2 Billion Buy of 65 Lockheed Fighter Jets
06/05/201417:26:20Canada Near $8.2 Billion Buy of 65 Lockheed Fighter Jets -Reuters
06/02/201418:17:01Lockheed Martin Wins $915 Million Space Fence Deal
05/27/201419:56:25Washington Considers Missile-Defense System in South Korea
05/13/201420:29:20Russia Bans U.S. Sales of Rocket Engines
05/06/201418:03:57Turkey Moves Closer to F-35 Deal
05/01/201402:50:15SpaceX Wins Injunction Against Rocket Rival
04/23/201408:06:04Kongsberg Gruppen Gets NOK160 Million F-35 Joint Strike Fighter...
04/23/201402:57:11Australia to Buy 58 F-35 Joint Strike Fighters
04/22/201417:30:11MARKET SNAPSHOT: U.S. Stocks Gain; S&P 500 Extends Streak To...
04/22/201417:22:59Lockheed Boosts 2014 Profit Guidance, Posts Gains in1st Quarter...
04/22/201414:38:17MARKET SNAPSHOT: U.S. Stocks Rise; Netflix Jumps On Results

Lockheed Martin and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad