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Planned Divestiture of Business Boosts Lockheed Martin’s Second Quarter Net

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By Calvin Biesecker Lockheed Martin [LMT] yesterday reported a strong increase in its second quarter net income due to the planned divestiture of its Pacific Architects and Engineers (PAE) civil support business while sales grew slightly. Net income increased 12 percent to $325 million, $2.22 earnings per share (EPS), from $734 million ($1.88 EPS), from a year ago. The earnings include a $96 million tax benefit due to the recognition of a deferred tax asset related to PAE when the…

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