spacetoday.net: Lockheed Martin space systems profit grows

Posted: Fri, Jan 25, 2008, 6:58 AM ET (1158 GMT)

Lockheed Martin reported improved sales and profits for its Space Systems operating in 2007 on Thursday. the company reported an operating profit of $236 million on $2.13 billion in net sales for the fiscal fourth quarter of 2007, compared to a $187 million operating profit on $2.00 billion in net sales for the same quarter of 2006. For the full year, Lockheed Martin Space Systems had an operating profit of $856 million on $8.20 billion in net sales, up from an operating profit of $742 million on $7.92 billion in 2006. The company credited sales increases in its satellites and missiles units that offset declines in its space transportation unit caused by Lockheed's divestiture of its share of International Launch Services as well as the formation of United Launch Alliance. The company overall reported an operating profit of over $4.5 billion on nearly $41.9 billion in net sales for 2007.