Lockheed Martin Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016
January 26, 2016 at 07:01 am
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Lockheed Martin Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net sales of $12,917 million against $12,530 million a year ago. Operating profit was $1,281 million against $1,342 million a year ago. Earnings from continuing operations before income taxes were $1,163 million against $1,258 million a year ago. Net earnings were $933 million against $904 million a year ago. Diluted earnings per common share were $3.01 against $2.82 a year ago. Cash from operations was $1.4 billion compared to cash used in operations of $201 million a year ago.
For the year, the company reported net sales of $46,132 million against $45,600 million a year ago. Operating profit was $5,436 million against $5,592 million a year ago. Earnings from continuing operations before income taxes were $5,023 million against $5,258 million a year ago. Net earnings were $3,605 million against $3,614 million a year ago. Diluted earnings per common share were $11.46 against $11.21 a year ago. Net cash provided by operating activities was $5,101 million against $3,866 million a year ago. Capital expenditures were $939 million against $845 million a year ago.
For the year 2016, the company net sales will be in the range of $49,500 million to $51,000 million. Consolidated operating profit will be in the range of $5,600 million to $5,750 million. Diluted earnings per share will be in the range of $11.45 to $11.75. Cash from operations will be greater than $5,300 million.
Lockheed Martin Corporation specializes in the design, manufacturing and marketing of aeronautic, submarine, and aerospace systems. Net sales break down by activity as follows:
- sale of aeronautic systems (40.7%): military and civilian aircraft, primarily for government organizations;
- sale of helicopters, mission and electronic systems (24%): military and commercial helicopters, ships, sea and land-based missile defense systems, radars, sensors, sea and air-based mission and combat systems, training systems, cyber solutions, command, control and communication systems, surveillance and reconnaissance systems, simulation and training systems, etc.;
- sales of aerospace systems (18.7%): satellite systems, missile systems and space transport systems;
- sale of air defense and fire control systems (16.6%): air and missile defense systems, tactical missiles, precision strike weapons systems, fire control systems, etc. The group also offers support services for mission operations, preparation, technical support, integration services, etc.
Net sales break down by source of income into sales of products (83.3%) and services (16.7%).
Net sales are distributed geographically as follows: the United States (74.3%), Europe (9.5%), Asia/Pacific (8.3%), Middle East (5.8%) and other (2.1%).
Lockheed Martin Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016