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Lockheed Martin Reports Modest Gains In Fourth Quarter

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By Calvin Biesecker Bolstered by its growing information technology and services business, Lockheed Martin [LMT] yesterday posted higher fourth quarter net income and sales although pension headwinds forced the company to lower its expected earnings for 2009. Net income in the quarter rose 3 percent to $823 million, $2.05 earnings per share (EPS), from $799 million ($1.89 EPS), topping Wall Street estimates by 14 cents per share. A portion of the earnings increase was due to a deferred gain related…

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