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Business/Financial

Lockheed Martin’s Sales Up But Earnings Dip On Severance, Corporate Expenses

By Cal Biesecker

Tuesday, October 20th, 2015

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Lockheed Martin’s Sales Up But Earnings Dip On Severance, Corporate Expenses

The Marine Corps' short takeoff and vertical landing (STOVL) F-35B performs a vertical landing. Photo: Lockheed Martin.

Lockheed Martin [LMT] on Tuesday 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 volume…

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