Defense contractor Lockheed Martin ( LMT) said fourth-quarter sales rose 6% from the same period a year ago, and the company raised its profit estimates for 2007. Lockheed had earnings of $729 million, or $1.68 a share, in the most recent quarter, compared with $568 million and $1.29 a share in the same period a year earlier. Net sales rose to $10.8 billion from $10.2 billion. Analysts surveyed by Thomson Financial were looking for earnings of $1.46 a share and a top line of a little under $10.8 billion. For the coming year, Lockheed now expects earnings of $5.80 to $6 a share, up from its prior outlook of $5.60 to $5.80. The company's sales estimate is now $40.3 billion to $41.3 billion, down from its previously forecast range of $41 billion to $42 billion. The revised sales guidance reflects the completion of the United Launch Alliance joint venture transaction. Because of the arrangement, Lockheed will no longer record sales on Atlas launch vehicles and related support sold to the U.S. government. The company previously said this year's sales would be reduced by roughly $800 million because of its accounting methods for the ULA deal.