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
08/26/201517:40:00Boeing Settles Retirement-Plan Class Action
08/25/201520:27:00Oshkosh Wins $6.75 Billion Military Contract to Replace Humvee...
08/25/201518:19:00Oshkosh Wins $6.7 Billion Military Contract to Replace Humvee...
08/25/201518:00:00Oshkosh Wins $6.7 Billion Military Contract to Replace Humvee
08/25/201517:49:00Oshkosh Wins $6.7 Billion Military Contract to Replace Humvee
08/25/201508:00:00Lockheed Martin Makes Tiny Satellite Cooling System Three Times...
08/17/201509:27:00Lockheed Martin and Weibel Scientific A/S Partner for Ballistic...
08/13/201515:34:00Buttoned Up: Lockheed Martin-Built MUOS-4 Secure Communications...
08/13/201510:00:00Missile Defense Multi-tasking: Lockheed Martin Designing Single-launch...
08/13/201509:00:00Taiwan Becomes 20th International Customer for Lockheed Martin's...
08/12/201510:00:00Lockheed Martin Selected To Secure All Western Region Airports...
08/12/201509:30:00U.S. Army Awards Lockheed Martin Contract to Upgrade Apache Helicopter...
08/10/201512:00:00Lockheed Martin Receives Enhanced Cybersecurity Services Accreditation...
08/07/201516:08:06Statement of Changes in Beneficial Ownership (4)
08/05/201516:10:06Statement of Changes in Beneficial Ownership (4)
08/05/201508:00:00Lockheed Martin Awarded Commercial Atlas Launch Contract for...
08/04/201510:33:00Lockheed Martin Team JLTVs Continue To Roll Off Camden Production...
08/04/201503:30:05Meggitt Gets $42.1 Million Contract to Supply Lockheed Martin...
08/03/201512:47:00Aegis Goes Four-for-Four in Weeklong Missile Test Series
08/03/201510:00:00Lockheed Martin Technology Helps Pilots and UAS Operators Share...

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