Lockheed Martin gains space sales, profits
Posted: Sat, Jan 28, 2006, 10:27 AM ET (1527 GMT)
Lockheed Martin reported this week increased sales and profits for its space division for the fourth quarter of 2005 and the full year. Lockheed said its Space Systems unit reported an operating profit of $156 million on $1.85 billion in net sales for the fourth quarter of 2005, compared to $127 million in operating profit on $1.80 billion of net sales for the same quarter of 2004. For all of 2005 Lockheed had a net profit of $609 million on $6.82 billion in sales, compared to $489 million and $6.36 billion in profiles and sales, respectively, for 2004. The quarterly increase was caused by missile sales, which overcame a decline in launch and satellite sales. Full-year profits increased because of improved performance by the company's Atlas launch vehicle program and increased government sales by its satellite unit.
Lockheed Martin reported this week increased sales and profits for its space division for the fourth quarter of 2005 and the full year. Lockheed said its Space Systems unit reported an operating profit of $156 million on $1.85 billion in net sales for the fourth quarter of 2005, compared to $127 million in operating profit on $1.80 billion of net sales for the same quarter of 2004. For all of 2005 Lockheed had a net profit of $609 million on $6.82 billion in sales, compared to $489 million and $6.36 billion in profiles and sales, respectively, for 2004. The quarterly increase was caused by missile sales, which overcame a decline in launch and satellite sales. Full-year profits increased because of improved performance by the company's Atlas launch vehicle program and increased government sales by its satellite unit.
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