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Lockheed Martin Q4 profit rises 10 per cent; outlook up on aeronautics

Jan. 24, 2008, Bethesda, MD - Defence contractor Lockheed Martin Corp. on Thursday said profits rose 10 per cent in the fourth quarter.


January 24, 2008
By Carey Fredericks

Jan. 24, 2008, Bethesda, MD – Defence contractor Lockheed Martin Corp. on
Thursday said profits rose 10 per cent in the fourth quarter, partly
on strength in its information systems and space systems businesses.

Lockheed reported a profit of US$799 million, or $1.89 per share,
compared to a year-earlier profit of $729 million, or $1.68 per
share. Net sales were flat at $10.84 billion.

Analysts polled by Thomson Financial, on average, expected
earnings of $1.69 per share on sales of $10.73 billion.

The company raised its forecast for 2008 earnings per share to a
range of $7.05 per share to $7.25 per share, from a range of $6.95
to $7.15 previously. Analysts expected earnings of $7.29 per share
for the year.

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Lockheed attributed the higher forecast to strength in the
aeronautics business.