Lockheed Profit Rises 8.1% on Strong Sales
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Lockheed Martin Corp., the biggest U.S. defense contractor, said fourth-quarter earnings rose 8.1% on rising sales of missiles, satellites and electronic sensors and improved profit on military aircraft. Lockheed raised its 2005 forecast for sales and profit.
Net income climbed to $372 million, or 83 cents a share, from $344 million, or 77 cents, in the fourth quarter of 2003. Sales increased 11% to $9.97 billion, the Bethesda, Md., company said.
Lockheed’s shares rose $1.17 to $56.40 on the NYSE.
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