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UPDATE: Lockheed Martin Posts Drop In Q4 Profit, Projects Higher 2013 Profit

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Lockheed Martin (NYSE: LMT) reported a drop in its fourth-quarter net profit. It also expects rise in earnings for this year.

Lockheed Martin projects 2013 earnings from continuing operations of $8.60 to $9.10 per share on sales of $44.5 billion to $46 billion.

Lockheed Martin's quarterly net profit declined to $569 million, from $683 million, in the year-ago period. Its per-share earnings fell to $1.73 from $2.09, missing analysts' estimates.

Its sales dropped to $12.1 billion from $12.2 billion.

Lockheed Martin shares closed at $96.07 yesterday.

 

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