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Lockheed Martin Space Systems Sees Slight 2018 Revenue Increase

By | January 29, 2019
GPS 3 SV03 fully assembled at Lockheed Martin's satellite manufacturing facility near Denver, Colorado. Photo: Lockheed Martin.

GPS 3 SV03 fully assembled at Lockheed Martin’s satellite manufacturing facility near Denver, Colorado. Photo: Lockheed Martin

Lockheed Martin released its results for Fourth Quarter (Q4) 2018, as well as for the full year of 2018. Lockheed Martin’s Space segment’s net sales in Q4 2018 increased $49 million, or 2 percent, compared to the same period in 2017. The increase was primarily attributable to higher net sales of approximately $25 million for the Orion program due to higher volume; about $15 million for strategic and missile defense programs due to higher volume. and about $15 million for government satellite programs due to higher volume.

As for for the entirety of 2018, Space’s net sales increased $203 million, or 2 percent, compared to 2017. The increase was primarily attributable to higher net sales of approximately $225 million for strategic and missile defense programs due to higher volume and about $65 million for the Orion program due to higher volume. These increases were partially offset by a decrease of approximately $70 million for commercial satellite programs due to lower volume and about $25 million for government satellite programs due to lower volume.

Space’s operating profit in Q4 2018 increased $9 million, or 4 percent, compared to the same period in 2017. Additionally, Space’s operating profit in 2018 increased $75 million, or 8 percent, compared to 2017.