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Business/Financial

Lockheed Martin Posts Higher Sales, Earnings; Combining IT Business With Leidos

By Cal Biesecker

Tuesday, January 26th, 2016

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Lockheed Martin Posts Higher Sales, Earnings; Combining IT Business With Leidos

The F-35 Joint Strike Fighter. Photo by Lockheed Martin.

Lockheed Martin [LMT] on Tuesday reported higher fourth quarter sales and earnings, which beat consensus estimates, and announced it is separating its realigned information technology and services segment and combining it with Leidos [LDOS] in a transaction valued at $5 billion.Sales increased 3 percent to $12.9 billion from $12.5 billion a year ago due to the $9 billion acquisition last November of Sikorsky Aircraft from United Technologies Corp. [UTX]. Net income also rose 3 percent to $933 million, $3.01 earnings…

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