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Space Segment Leads Lockheed Martin’s Income Down In Third Quarter

Cal Biesecker By
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Space Segment Leads Lockheed Martin’s Income Down In Third Quarter
F-35 developer Lockheed Martin is part of the Aerospace Industries Association (AIA) trade group. Photo: Air Force

Lockheed Martin [LMT] on Tuesday reported higher sales but lower earnings in its third quarter was profits were largely hampered by results from the company’s Space Systems segment.A handsome gain a year ago in the space business didn’t recur in the latest quarter and the segment also suffered from lower risk retirements, a charge related to performance, and lower volume on two military satellite programs, the Space Based Infrared Satellite missile warning system and the Advanced Extremely High Frequency communications…

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