Lockheed Martin posts 29% revenue boost

(Satellite Today via NewsEdge) Revenue at Lockheed Martin Space Systems increased 29% to $2.1 billion in the second quarter, driven by growth in satellite and missile
defense systems.

The increase in satellites was due to higher volume on both commercial and government programs during the quarter. Lockheed Martin delivered a pair of commercial satellites during the second quarter, which closed June 30, bringing its total to three for the year. In the first six months of 2005, the company did not record a commercial satellite delivery.

Launch services revenue in the second quarter remained relatively unchanged from the same period in 2005.

Space Systems operating profit grew 29% to $189 million, with all three businesses posting gains. Launch services operating profit increased due to improved performance on the Atlas program because of higher volume and risk reduction activities, while satellite operating profit also benefited from commercial deliveries.

Overall, Lockheed Martin reported revenue of $10 billion and a profit of $580 million in the second quarter.

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