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Lockheed Martin Q3 net sales $11.3 billion

Staff writer ▼ | October 23, 2013
Lockheed Martin Corporation reported third quarter 2013 net sales of $11.3 billion compared to $11.9 billion in the third quarter of 2012.
Lockheed MartinLockheed Martin Corporation reported third quarter 2013 net sales of $11.3 billion compared to $11.9 billion in the third quarter of 2012.


Net earnings from continuing operations in the third quarter of 2013 were $842 million, or $2.57 per diluted share, compared to $727 million, or $2.21 per diluted share, in the third quarter of 2012.

Cash from operations in the third quarter of 2013 was $900 million, after pension contributions of $750 million, compared to cash from operations of $1.6 billion in the third quarter of 2012.

Third quarter 2013 net earnings included a non-cash FAS/CAS pension expense of $121 million, which reduced net earnings from continuing operations by $75 million, or $0.23 per diluted share, compared to a third quarter 2012 non-cash FAS/CAS pension expense of $207 million, which reduced net earnings from continuing operations by $128 million, or $0.39 per diluted share.

The third quarter of 2012 also included a special charge of $23 million, which reduced net earnings from continuing operations by $15 million, or $0.05 per diluted share, related to workforce reductions at the Corporation’s former Electronic Systems business segment. ■


 

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