Lockheed Martin

(LMT) - Get Report

posted third-quarter earnings that beat analysts' estimates, and the company continued to back expectations for the full year.

The defense and aerospace contractor earned $115 million, or 28 cents a share, compared with $183 million, or 48 cents a share, a year ago. Figures exclude the effects of nonrecurring and unusual items. Wall Street was looking for the company to earn 25 cents a share, according to

I/B/E/S

TST Recommends

.

Quarterly sales fell to $5.96 billion from $6.16 billion last year.

Lockheed Martin also reaffirmed its 2000 earnings outlook of about $1.05 a share, excluding the effects of any nonrecurring and unusual items. The company also reiterated its forecast for EPS to rise by 15% to 25% annually.

Shares of Lockheed were recently up 65 cents, or 1.9%, to $35.50 on the

New York Stock Exchange

.