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Lockheed Martin Opens 2008 With Solid Earnings And Sales

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By Calvin Biesecker Lockheed Martin [LMT] yesterday reported solid first quarter financial results with each of its operating segments posting higher earnings, led by strong performance in the Space Systems business. Operating profits in the Space Systems segment increased 25 percent to $231 million, driven primarily by better earnings at the United Launch Alliance (ULA) joint venture with Boeing [BA] and from a fee related to a terminated commercial launch services contract. The improving profit picture at ULA is expected…

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