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Lockheed Martin Posts Strong Earnings Despite Drop In Sales

Defense Daily Staff

Wednesday, July 24th, 2013

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Lockheed Martin Posts Strong Earnings Despite Drop In Sales

The underside of the Air Force's F-35A conventional takeoff and landing aircraft. Photo: Air Force.

Lockheed Martin [LMT] yesterday reported strong second quarter earnings that handily whooped consensus estimates and the company raised its 2013 projections for earnings and cash. Net income increased 10 percent to $859 million, $2.64 earnings per share (EPS), from $781 million ($2.38 EPS), beating analysts’ estimates by 43 cent per share. Segment operating margins were up 1.1 percent to a record 13.4 percent while total operating margins were up 1.4 percent to 11.4 percent. The earnings results were aided by…

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