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Lower Tax Rate, Pension Tailwind Drive Profit Increase At Lockheed Martin

Rich Abott By
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Lockheed Martin [LMT] on July 20 posted higher sales and net income in its second quarter with the bottom line gains driven by a lower tax rate and favorable pension adjustments.The solid results were above the company’s expectations and led it to increase earnings guidance for the year.The company was slated to report the quarterly results on July 21 but moved the release up a day to coincide with its announcement that it has agreed to acquire Sikorsky Aircraft from…

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