Lockheed Martin's ( LMT) first-quarter earnings jumped 16% on an 18% rise in revenue from a year ago, as the defense technology contractor saw improved results across its business lines.

Lockheed earned $291 million, or 65 cents a share, in the latest quarter compared with earnings of $250 million, or 55 cents a share, last year. Net sales rose to $8.3 billion from $7.1 billion.

Analysts surveyed by Thomson First Call were forecasting earnings of 53 cents a share on sales of $7.73 billion in the latest quarter. Lockheed also guided higher for the full year, saying it sees 2004 net income of $2.50 to $2.60 a share, up 10 cents a share from its old estimate. Sales should be in a range of $33.8 billion to $34.8 billion, up from the old estimate for sales of $33.5 billion to $34.5 billion.

Analysts had been forecasting earnings of $2.54 a share on sales of $34.2 billion.

By segment, Lockheed's aeronautics segment saw revenue of $2.87 billion in the latest quarter, up from $2.09 billion a year ago. Electronic systems had revenue of $2.13 billion in the latest quarter, up from $1.98 billion. Space systems saw revenue of $1.58 billion in the latest quarter, up from $1.53 billion a year ago. And integrated systems and solutions saw revenue of $907 million, up from $772 million last year.

If you liked this article you might like

Spain to Play Netherlands for World Cup

Spain to Play Netherlands for World Cup

Wal-Mart: Analysts' Upgrades, Downgrades

Wal-Mart: Analysts' Upgrades, Downgrades

Netherlands Advances to World Cup Final

Netherlands Advances to World Cup Final

Apple: Analysts' Upgrades, Downgrades

Apple: Analysts' Upgrades, Downgrades

World Markets Mostly Lower Monday

World Markets Mostly Lower Monday