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Lockheed Martin’s Third Quarter Income Down On ULA, F-35 Despite Higher Sales

Cal Biesecker By
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Lockheed Martin’s Third Quarter Income Down On ULA, F-35 Despite Higher Sales
F-35 Production Line (Lockheed Martin Photo)

Lower profits on the F-35 fighter program and fewer space launches led to a decline in net income at Lockheed Martin [LMT] in the third quarter despite a small gain in sales, the company reported on Tuesday. Net income fell 5 percent to $1.7 billion, $6.73 earnings per share (EPS), from $1.8 billion ($6.71 EPS) a year ago, still topping consensus estimates by 6 cents per share. Sales increased 2 percent to $16.9 billion from $16.6 billion. Per share results…

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