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Lockheed Martin Opens Fiscal Year With Strong Earnings

Defense Daily Staff Defense Daily Staff
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Lockheed Martin [LMT] yesterday posted strong first quarter earnings despite a slight dip in sales due to operational improvements and the company left its outlook for the year relatively intact but said the ongoing budget sequestration would pressure sales to the low end of its guidance range. Net income climbed 14 percent to $761 million, $2.33 earnings per share (EPS), compared to $668 million ($2.03 EPS) a year ago, well above analysts' estimates of $2.04 EPS. Segment operating margins were…

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