spacetoday.net: Lockheed reports increased space profit

Lockheed reports increased space profit

Posted: Wed, Apr 27, 2005, 11:01 AM ET (1501 GMT)

Lockheed Martin reported Tuesday an increase in revenue and profits for its space division in the first quarter. The company reported an operating profit of $153 million on net sales of $1.66 billion in the first quarter of 2005. By comparison, the company reported an operating profit of $120 million on net sales of $1.58 billion in the same quarter of 2004. The company attributed improved performance on its government satellite contracts for its increased sales and profits. Profit for its launch services division was slightly lower than last year even though the company had a "more profitable" Proton launch this quarter.