Lockheed Martin announces Third Quarter 2006 results

Lockheed Martin announces Third Quarter 2006 results

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Bethesda, Maryland, USA, 24 October 2006 – Lockheed Martin Corporation today reported third quarter 2006 net earnings of $629 million ($1.46 per diluted share), compared to $427 million ($0.96 per diluted share) in 2005. Net sales were $9.6 billion, a 4% increase over third quarter 2005 sales of $9.2 billion. Cash from operations for the third quarter of 2006 was $652 million.

Net sales for the nine months ended September 30, 2006 were $28.8 billion, a 7% increase over the $27.0 billion in the comparable 2005 period. Net earnings for the nine months ended September 30, 2006 were $1.8 billion ($4.12 per share), compared to $1.3 billion ($2.81 per share) in 2005. Cash from operations for the nine months ended September 30, 2006 was $3.5 billion.

“Our focus on program execution has driven operational performance to higher levels in each quarter this year, supporting margin expansion, strong growth in our net earnings and a record backlog,” said Bob Stevens, Chairman, President and CEO of Lockheed Martin. “This is a tribute to the professionalism of our 140,000 employees who are committed to maintaining the trust and confidence of our customers by providing them with the critical capabilities they require.”