Lockheed Martin Satellite Sales Down in Third Quarter
[Satellite Today 10-21-08] Net sales for Lockheed Martin’s space systems unit decreased by 14 percent for the quarter and 1 percent for the nine months of 2008 from the comparable 2007 periods, the company announced Oct. 21.
Lockheed Martin said satellite sales and operating profits declined due to lower volume in commercial and government satellite activities in both periods. Lockheed had no commercial satellites delivered during the third quarter of 2008 as compared to two deliveries in the comparable 2007 period.
Overall, Lockheed Martin reported third quarter 2008 earnings were $782 million, compared to $766 million in 2007. Net sales were $10.6 billion, a 5 percent decrease from third quarter 2007 sales of $11.1 billion.