Alexa

Lockheed Martin 4th quarter profit up on revenue, exclusion of reversal on some reserves

Lockheed Martin 4th quarter profit up on revenue, exclusion of reversal on some reserves

Defense contractor Lockheed Martin Corp. said Thursday its fourth-quarter profit increased 28 percent on higher revenue across all its business segments.
Net income climbed to $729 million (euro560.55 million), or $1.68 per share, in the three months ended Dec. 31 compared with $568 million, or $1.29 per share, in the year-ago period.
Analysts polled by Thomson Financial were looking for a profit of $1.46 per share.
Quarterly revenue rose 6 percent to $10.84 billion (euro8.34 billion) from $10.23 billion in the previous year on improved sales in most of its business segments. Analysts were looking for sales of $10.77 billion (euro8.28 billion).