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Lockheed Martin (LMT) 4Q Earnings, Revenue Fall; Guides 2013

 January 24, 2013 06:49 AM
 


(By Balachander) Lockheed Martin Corp. (NYSE: LMT) reported a fall in quarterly earnings amid lower revenue and the security and aerospace company issued its guidance for 2013.

Earnings from continuing operations declined to $569 million or $1.73 per share from $698 million or $2.14 per share in the comparable period of last year. Both the quarters included non-cash FAS/CAS pension adjustments.

Sales fell 0.8 percent to $12.1 billion in the fourth quarter.

Wall Street analysts, on average, expected earnings of $1.82 per share on sales of $11.16 billion.

Looking ahead for the full year, the company expects earnings per share from continuing operations in the range of $8.80 to $9.10 on sales between $44.5 billion and $46 billion. Analysts expect earnings of $8.27 per share on revenue of $45.25 billion for 2013.

[Related -Lockheed Martin Corporation (NYSE:LMT): How A Small Budget Deal Impacts Defense Contractors?]

The Bethesda, Maryland-based company operates in five business segments: Aeronautics; Information Systems & Global Solutions; Missiles and Fire Contro; Mission Systems and Training and Space Systems.

LMT shares, which have been trading in the 52-week range between $80.14 and $96.07, ended Wednesday's regular trading at $96.07.

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