Lockheed Martin Corporation Beats Dismal Earnings Estimates

Bethesda-based Lockheed Martin Corporation (NYSE: LMT) reported financial results for the fourth quarter 2011 as well as for the full calendar year.

Net sales were lower than the previous quarter in 2010, the defense contractor brought in $12.2 billion in Q4 2011 compared to $12.8 billion. For the year, net sales were above the $46 billion mark to $46.5 billion.

Net earnings amounted to $698 million or $2.14 per diluted share, taking discontinued operations into account, total net earnings were $683 million in the fourth quarter of 2011. Back in September Lockheed Martin said it would divest interest in its Savi Technology subsidiary, part of its Electronic Systems business segment.

The largest publicly traded company in the D.C. area measured by annual revenue, reported earnings above the average analyst estimate of $1.94 per share. The actual earnings of $2.14 per diluted share was also above the high estimate of $2.03 per share. The average was taken from 23 analysts.

Lockheed Martin's 2012 financial outlook was virtually flat with net sales estimated to fall between $45 billion and $46 billion.

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