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Business/Financial

Lockheed Martin Posts Higher Results But Pension Expenses Weigh On Earnings

DDN

Friday, January 29th, 2010

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By Calvin Biesecker Lockheed Martin [LMT] yesterday reported strong fourth quarter sales and a scant increase in earnings, which nonetheless easily beat Wall Street expectations. The company's net income of $827 million, $2.17 earnings per share (EPS), was barely more than the $823 million ($2.05 EPS) earned a year ago. Consensus expectations were for $1.99 EPS. Stock repurchases throughout 2009 helped boost the increase in per share earnings above the flattish net income level. A swing from pension income a…

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