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Business/Financial

Executive Separation Charge Helps Drag Down Lockheed Martin’s Earnings

DDN

Wednesday, October 20th, 2010

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By Calvin Biesecker Lockheed Martin [LMT] yesterday posted a sharp decline in third quarter earnings largely due to a hefty charge stemming from a previously announced voluntary executive separation program as well as other corporate expenses, leading the defense contractor to also lower its earnings guidance for the year. The company also provided a general outline for 2011 expectations, saying earnings would be flat while sales would increase in the low single digits. The weak outlook for next year stems…

Congress

Senate’s CR Has Ship Construction Exemption, Forgoes White House’s Battleship, Munitions Requests

The Senate on Sunday released a bipartisan stopgap funding proposal to keep the government open through December 11, which would also secure additional funds to support ongoing shipbuilding efforts and […]

Congress

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The number of fighter aircraft in the U.S. military inventory will decline over the next few years before expanding to a greater number than currently, but their availability for operational […]

Congress

White House Details ‘Concerns’ With Shipbuilding, Spaced-Based Interceptor Oversight In House’s NDAA

The White House has detailed “a number of concerns” with the newly-passed House version of the next defense policy bill, to include the legislation’s limits on procuring Navy ships built […]

Congress

House Narrowly Votes To Pass $1.15 Trillion FY ‘27 NDAA, Blueprint For Reconciliation 3.0

The House on Wednesday narrowly voted to pass its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA) and a blueprint for a third reconciliation bill […]