Lockheed Martin profit rises 26%

Lockheed Martin, the world's largest defense company, said second-quarter profit climbed 26% on higher sales of government computer services and commercial satellites. Net income rose to $580 million ($1.34 a share) from $461 million a year earlier. Sales rose 7.2% to $9.96 billion. Lockheed posted the largest gains for the quarter at its space business, the maker of Atlas rockets, which accounted for 18% of last year's sales.

The company, the maker of the F-16 and F-22 fighter jets, raised its 2006 earnings per share forecast to $5.10 to $5.30, from $4.65 to $4.85 previously. The sales forecast was narrowed to between $38.5 billion and $39.5 billion.

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