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Business/Financial

Pension Income Drive Earnings Rise At Lockheed Martin In Second Quarter

By Cal Biesecker

Tuesday, July 22nd, 2014

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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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