spacetoday.net: Lockheed reports increased space profits

Posted: Fri, Jan 28, 2005, 6:59 AM ET (1159 GMT)

Lockheed Martin reported Thursday an increase in sales and profits for both the quarter and year for its space unit. Lockheed said its Space Systems division reported an operating profit of $127 million on net sales of $1.8 billion for the fourth quarter of 2004, compared to a $103-million profit on $1.45 billion in net sales for the same quarter of 2003. For the full year, the unit had an operating profit of $489 million on $6.35 billion in net sales, compared to a profit of $403 million on $6 billion in sales in 2003. The company said that increased sales in its satellite and missile units offset a decline in launch services. Launch services still reported an unspecified increase in operating profit for the year because of government support of the Atlas launch vehicle and the termination of an unidentified commercial launch contract. Increased profitability in commercial satellite programs, meanwhile, offset lower profitability in a government program.