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Lockheed Martin Reports Growth in Space, Yet Continued Supply Chain Headwinds in Munitions, Other Areas

Lockheed Martin Reports Growth in Space, Yet Continued Supply Chain Headwinds in Munitions, Other Areas
Jesus “Jay” Malave. Boeing’s incoming chief financial officer.(Lockheed Martin Photo)

Lockheed Martin [LMT] first quarter sales grew slightly from $15 billion last year to $15.1 billion this year on the strength of 16 percent sales growth in the space sector, which saw a $400 million revenue increase from about $2.6 billion last year to nearly $3 billion this year. Operating profit in the space business area increased from $252 million to $280 million, the company said. Jay Malave, Lockheed Martin's chief financial officer, said during an Apr. 18 company earnings…

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