Lockheed Martin [LMT] on Oct. 20 posted higher sales but lower earnings in the third quarter as severance charges and higher corporate expenses more than offset a slight increase in operating profit.Sales in the quarter rose 3 percent to $11.5 billion from $11.1 billion a year ago, driven primarily by increased production and sustainment activities for the F-35 fighter program, and to a lesser extent by higher deliveries of targeting systems, the start of the Space Fence program, and higher…
Lockheed Martin’s Sales Up But Earnings Dip On Severance, Corporate Expenses
By
Rich Abott
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