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Lockheed Martin Warns of Quarterly Loss; Shares Fall 13.8 Percent.
Knight Ridder/Tribune Business News, June, 1999 by Dworkin, Andy
Knight Ridder/Tribune Business News
Jun. 10 -- Plagued by a host of business problems, Lockheed Martin Corp. told investors Wednesday that it will earn less than half what most analysts expected this year and lose money in the second quarter.
The aerospace and defense company's stock price dropped 13.8 percent after the announcement, as some investors said they were losing faith in the company's management.
Bethesda, Md.-based Lockheed Martin, which owns Fort Worth's F-16 fighter plant, said it will lose 10 to 15 cents a share for the second quarter, compared with the profit of about 74 cents a share many analysts had anticipated.
The company cut expectations for full-year earnings from an anticipated $3.21 to $1.50 and told analysts...
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