Lockheed Martin Reports Profitable Third Quarter

[10-23-07 – Satellite Today] Net sales for Lockheed Martin’s space systems division rose 19 percent in the quarter to the end of September. This lead to the division making a quarterly profit of $222 million, the company announced Oct.  23.

Revenue growth in satellites and strategic and defence missile systems drove the increase. In terms of satellite, the sales were driven by increases in both commercial and government satellite activities. Lockheed Martin delivered two satellites this quarter, compared to one delivery in the third quarter of 2006.

Lockheed Martin reported net earnings of $766 million, almost a 22 percent increase over third quarter 2006 earnings of $629 million. Net sales also increased from $9.6 billion in 2006 to $11.1 billion for the quarter ending Sept. 30.