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Lockheed Beats, Boosts Targets

Stock quotes in this article: LMT  

Lockheed Martin(LMT Quote), continuing to benefit from strong demand for defense-related products, posted a 22% jump in third-quarter earnings and again lifted its forecast for the year.

The Bethesda, Md., aerospace and defense giant reported third-quarter earnings of $766 million, or $1.80 a share, up from $629 million, or $1.46 a share, a year earlier.

Sales rose to $11.1 billion from $9.61 billion the prior year.

The results handily beat analysts' targets for earnings of $1.64 a share and sales of $10.38 billion, based on estimates from Thomson Financial. ...

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