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Pension Income Drive Earnings Rise At Lockheed Martin In Second Quarter

Pension Income Drive Earnings Rise At Lockheed Martin In Second Quarter
The Marine Corps' short takeoff and vertical landing (STOVL) F-35B performs a vertical landing. Photo: Lockheed Martin.

Lockheed Martin [LMT] on Tuesday reported higher earnings in the second quarter due to a swing to pension income and the company increased its profit guidance for the year as a result of stronger than expected operating performance in the first half of 2014 and because of better than expected pension income in the second half of the year stemming from a recent decision to alter its retirement plans. Net income rose 3 percent to $889 million, $2.76 earnings per…

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