Lockheed Earnings Up 6%, Topping Forecasts By THE ASSOCIATED PRESS
Published: April 23, 2008
WASHINGTON (AP) — The military contractor Lockheed Martin said its first-quarter earnings rose 6 percent as higher sales of space equipment, missiles and other combat tools offset a dip in sales of fighter jets.
Lockheed said it earned $730 million, or $1.75 a share, up from $690 million, or $1.60 a share, in the first quarter of 2007. Revenue for the period climbed to $9.98 billion, from $9.27 billion during the same quarter last year.
Analysts surveyed by Thomson Financial had expected Lockheed to earn $1.63 a share on sales of $9.69 billion. Lockheed’s first quarter included an extra week. The company also raised its outlook for 2008 by 10 cents, saying it expected to earn $7.15 to $7.35 a share for the year on revenue of $41.8 billion to $42.8 billion.
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At a time when most other businesses are in trouble.
War is sure profitable.