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Lockheed Boosts Guidance

The fourth quarter is a little light, though.
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Lockheed Martin

(LMT) - Get Lockheed Martin Corporation Report

posted a solid fourth quarter and boosted its 2006 earnings guidance.

The Bethesda, Md., defense contractor made $568 million, or $1.29 a share, for the quarter ended Dec. 31, up from the year-ago $372 million, or 83 cents a share. Revenue rose to $10.23 billion from $9.97 billion a year earlier. The fourth quarter results include a 13-cent gain on the October sale of 16 million shares of Inmarsat and a 4-cent gain on the sale of a NeuStar investment. Excluding those gains, Lockheed made $1.12 a share. Analysts surveyed by Thomson First Call were looking for $1.15 in profit on $10.3 billion in sales.

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Lockheed boosted its 2006 earnings view to $4.50 to $4.75 from the previous $4 to $4.25 while keeping its sales target steady at about $38.75 billion. Analysts were looking for $4.26 on $39.3 billion.