Quarterly Financials

Lockheed Martin [LMT] reported net earnings increases of 41 percent to $307 million during the third quarter of 2004, compared with $217 million in net earnings reported during the third quarter of 2003. Net sales of $8.4 billion were reported for the quarter, representing a 4-percent increase during the same period one year ago. The company’s Space Systems segment reported a decrease in net sales of 4 percent during the quarter, compared with the third quarter of 2003. The drop was attributed to a sales decline in both the launch services and satellite businesses.
Sirius Satellite Radio [SIRI] reported an adjusted loss from operations for the third quarter of 2004 of $125.7 million, an increase of $48.1 million over the same period one year ago and a net loss of $169.4 million in the third quarter of 2003, compared with a net loss of $106.7 million in the third quarter of 2003. The growing losses were attributed to an increase in subscriber acquisition costs as well as increased expenses associated with the marketing of its National Football League coverage. Subscribers to the satellite radio service increased to 662,289 subs as of Sept. 30, a 41-percent increase from the previous quarter and a 310-percent increase from the third quarter of 2003. The company reported an average monthly churn of 1.5 percent, down from 1.6 percent in the second quarter of this year.
The Boeing Co. [BA] reported revenues of $13.2 billion for the third quarter of 2004, up 8 percent from the $12.1 billion earned in the third quarter of 2003. Net income for the just-completed third quarter was $456 million, up 78 percent from $456 million earned during the same period one year ago. The company reported a decline in sales and other operating revenues in its launch and orbital systems business, with $822 million reported in the third quarter of 2004, down from $959 million in the third quarter of 2003. During the third quarter of 2004, Boeing delivered two Delta II rockets, no Delta IV and no satellites, compared to two Delta II, one Delta IV and no satellites in the same period one year ago.
Intelsat Ltd. reported revenue of $266.2 million and a net loss of $17.1 million during the third quarter of 2004, compared with revenues of $235.1 million and net income of $48.4 million reported during the same period one year ago.

Latest News

Quarterly Financials