Lockheed Martin Gains Altitude
Lockheed Martin Gains AltitudeLockheed Martin Gains Altitude
Tuesday October 26, 3:43 pm ET
By Seth Jayson (TMF Bent)
Lockheed Martin (NYSE: LMT - News), the defense giant that makes everything from nifty spacecraft to ultra-pricey fighter planes, made headlines today with some jet-fueled earnings.
Compared to the prior-year quarter, revenues were up a slim 4%. Sales reached $8.4 billion. But earnings, as everyone is reporting, were up an astonishing 44% to $0.69 per share. How did the firm pull off such a feat? Tight cost controls and increased operating efficiencies?
Not exactly. Results in the prior-year quarter included some big charges, $0.24 per share in total. That means this year's $0.69 from operations could be considered a step back from last year's non-charge $0.72. Look at it however you like.
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