Lockheed Martin Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013
January 23, 2014 at 06:25 am
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Lockheed Martin Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net sales of $11,533 million against $12,099 million a year ago. Operating profit was $834 million against $1,061 million a year ago. Earnings from continuing operations before income taxes were $746 million against $958 million a year ago. Net earnings from continuing operations were $488 million against $569 million a year ago. Net earnings were $488 million against $569 million a year ago. Diluted earnings per common share continuing operations were $1.50 against $1.73 a year ago. Diluted earnings per common share were $1.50 against $1.73 a year ago.
For the year, the company reported net sales of $45,358 million against $47,182 million a year ago. Operating profit was $4,505 million against $4,434 million a year ago. Earnings from continuing operations before income taxes were $4,155 million against $4,072 million a year ago. Net earnings from continuing operations were $2,950 million against $2,745 million a year ago. Net earnings were $2,981 million against $2,745 million a year ago. Diluted earnings per common share continuing operations were $9.04 against $8.36 a year ago. Diluted earnings per common share were $9.13 against $8.36 a year ago. Net cash provided by operating activities was $4,546 million against $1,561 million a year ago.
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%).