Defense contractor Lockheed Martin says its third-quarter earnings rose 2 percent as the company recorded strong sales in its information technology business, along with one-time gains from the sale of a rocket launch business.
The Bethesda, Md.-based defense contractor says its third-quarter earnings totaled $782 million, or $1.92 per share, compared with $766 million, or $1.80 per share, in the same quarter last year. The latest quarter included a gain of $44 million from the sale of the rocket launch business.
Revenue was $10.58 billion, a drop of about 4.5 percent from $11.1 billion in the same quarter a year ago.
Analysts polled by Thomson Reuters were expecting third-quarter earnings of $1.89 per share on revenue of $10.74 billion.
The company also raised its outlook for the year by 10 cents per share. But its 2009 forecasts are below Wall Street expectations.
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