Sales in Lockheed Martin Corp.’s Space Systems segment improved 5 percent in the company’s 2005 second quarter, as operating profit grew 13 percent, Lockheed Martin announced July 26.

The Space Systems segment recorded revenue of $1.6 billion in the most recent quarter, which ended June 30, up from revenue of $1.5 billion in the second quarter 2004. Lockheed Martin attributed the gain to increased U.S. government sales in the Strategic and Defensive Missile Systems and Satellites businesses, which offset declines in Launch Services due to fewer Atlas launches.

Segment operating profit was $146 million in the second quarter of 2005, compared to $129 million in the same period a year ago. The operating profit increase also was created by government business offsetting declines in commercial operations, the company said.

Overall, Lockheed Martin reported a profit of $461 million, including a $27 million gain on the company’s investment in Inmarsat, on revenue of $9.3 billion in the second quarter 2005. In the second quarter of 2004, Lockheed Martin posted a profit of $296 million on revenue of $8.8 billion.

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