A 6% gain in sales translated into a 56% surge in earnings at
, where all of the company's business lines saw profit improvement.
The defense, aeronautics and technology conglomerate earned $461 million, or $1.02 a share, in the quarter, including a 6-cent gain. Last year, it earned $296 million, or 6 cents a share. Sales were $9.3 billion in the 2005 quarter compared with $8.8 billion last year.
Analysts were forecasting earnings of 83 cents a share on sales of $9.12 billion in the latest quarter.
For all of 2005, Lockheed Martin expects to earn $3.60 to $3.75 a share on sales of $36.5 billion to $38 billion. Analysts were forecasting earnings of $3.54 a share on sales of $37.5 billion.
The company's old guidance was for earnings of $3.35 to $3.55 a share; it cited improving expectations for its systems and information technology and space systems groups.
In the systems and IT group, second-quarter sales rose 17% from last year to $4.79 billion, while operating profit jumped 27% to $474 billion. Aeronautics sales fell 8% from a year ago to $2.88 billion while operating profit in the segment rose 3% to $245 million.
In space systems, sales rose 5% from a year ago to $1.63 billion, while operating profit rose 13% to $146 million.
The stock was up $1.49, or 2.4%, to $64 on Instinet.