Lockheed’s Net Income More Than Doubles
Lockheed Martin Corp. said second-quarter profit more than doubled on increased sales of aircraft and because of a tax credit.
Net income rose to $339 million, or 75 cents a share, from $144 million, or 33 cents, a year earlier. Sales increased 10% to $6.29 billion.
Lockheed said the results included a tax credit of $90 million, or 20 cents a share, from the resolution of a dispute with the Internal Revenue Service. Net income also included a loss from discontinued operations of $12 million, or 3 cents a share.
Shares of Lockheed, based in Bethesda, Md., rose 60 cents to $60.60 on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
