Lockheed Martin Show Growth in Q! 2012 Results

Press Release
Monday, April 30, 2012

Lockheed Martin report increased net sales, earnings, & increases 2012 segment profit outlook

-- Net sales increased 6 percent to $11.3 billion
-- Earnings from continuing operations increased 20 percent to $665 million
-- Earnings per diluted share from continuing operations increased 29 percent to $2.02
-- Increases 2012 segment operating profit outlook

Lockheed Martin Corporation (NYSE: LMTreports first quarter 2012 net sales of $11.3 billion compared to $10.6 billion in 2011.  Earnings from continuing operations during the first quarter of 2012 were $665 million, or $2.02 per diluted share, compared to $556 million, or $1.57 per diluted share, in 2011.  Cash from operations during the first quarter of 2012 was $458 million, after pension contributions of $505 million and tax payments of $150 million, compared to cash from operations of $1.7 billion during the first quarter of 2011, which benefited from a tax refund of $236 million and no pension contributions.

"Our strong first quarter results reflect the strength of our portfolio and the commitment of our team to deliver value to our customers and shareholders," said Bob Stevens, chairman and chief executive officer.  "Throughout the remainder of 2012, we will focus on reducing costs and improving program execution to remain competitive and deliver value."

Net sales in the Electronic Systems business segment increased $127 million, or 4 percent, during the first quarter of 2012, compared to the corresponding period in 2011.  The increase was due to higher net sales of about $180 million from ship and aviation programs due to increased volume on programs such as Persistent Threat Detection System (PTDS), Littoral Combat Ship.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

Technology

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Finance

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

MHI Receives "Best IR Award"

Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's "Best IR Awards" presented annually by the Japan Investor Relations Association (JIRA).

Houston Port Commission Approves budget

The Fiscal Year 2015 Operating and Capital Budget was approved Thursday during a special meeting of the Port Commission of the Port of Houston Authority.   Projections

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1851 sec (5 req/sec)