Business Services Industry
Lockheed Martin Reports Higher Profit, Sales for First Quarter.
Knight Ridder/Tribune Business News, April, 2002
By Christopher Boyd, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Apr. 24--Military contractor Lockheed Martin Corp. reported Tuesday that its first-quarter profit more than doubled as the company continued to thrive on an increase in national defense spending.
The Bethesda, Md., company, which has 6,750 employees in Central Florida, said its income rose to $218 million, or 49 cents a diluted share, from $105 million, or 25 cents a share, in the first quarter of 2001. Sales during the quarter, which ended March 31, totaled $6 billion, a 26 percent increase compared with the same period last year when revenue was $4.7 billion.
"This is really the result of contracts that have been in the works for a long while," Lockheed...
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