Jim Cramer Blog

Lockheed Martin Corp., the world's largest defense contractor, said Tuesday that second-quarter earnings rose 34 percent on higher sales in most of its businesses, including fighter jets, missile defense and information technology.

The Bethesda, Md.-based company also lifted its 2007 forecast by 45 cents per share. Its shares rose more than 5 percent in morning trading.
Lockheed earned $778 million, or $1.82 per share, up from the $580 million, or $1.34 per share, in the second quarter of 2006.
Revenue stood at $10.7 billion, up 7 percent from $10 billion in the year-ago quarter. The company's second-quarter results included a $16 million, or 4 cent per share, one-time gain from the sale of a satellite company.
The company's results easily beat the consensus of analysts surveyed by Thomson Financial, who predicted second-quarter earnings of $1.53 per share per share on $10.2 billion in revenue.

Labels: LMT, Lockheed Martin Corp.