Lockheed Sales Fall but Backlog at Record $80.7B
Lockheed Martin's fourth-quarter profit tops the estimates of analysts but sales decline.
- Lockheed Martin (LMT) - Get Report, the defense company, reported a fourth-quarter profit of $683 million, or $2.09 a share.
- Earnings from continuing operations were $2.14 a share.
- Revenue was $12.21 billion.
- Analysts polled by Thomson Reuters expected earnings of $1.94 a share on revenue of $12.31 billion.
- In the year-earlier fourth quarter, Lockheed earned $961 million, or $2.67 a share, on revenue of $12.76 billion.
- Fourth-quarter orders of $19.8 billion increased year-end backlog to a record $80.7 billion.
- For 2012, Lockheed said it expects earnings from operations of $7.70 to $7.90 a share. Analysts forecast 2012 earnings of $7.77 a share.
