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Lockheed Martin Boosts Profits As Sales Dip In Third Quarter

Gally Articola

Friday, October 25th, 2013

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Despite continued weakness in the top line, Lockheed Martin [LMT] posted on Oct. 22 strong bottom line results in the third quarter driven by higher margins, lower taxes and pension expenses. The results were similar to the second quarter when the company reported a double-digit gain in net income while sales slipped four percent. In the third quarter net income soared 20 percent, thanks in part to gains from discontinued operations, to $873 million, $2.66 earnings per share (EPS), from $727 million…

Congress

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