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Lockheed Martin Posts Lower Sales, Earnings In Fourth Quarter

Defense Daily Staff Defense Daily Staff
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Lower sales, higher pension expenses and decreased tax credits led Lockheed Martin [LMT] to report lower profits in its fourth quarter. The company expects sales to decline further in 2012 with earnings either down or flat compared to 2011. Net income decreased 29 percent to $683 million, $2.09 earnings per share (EPS), from $961 million ($2.67 EPS). The 2010 results were bolstered by solid earnings from businesses that are now being recorded as discontinued operations whereas the 2011 results included…

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