Sunday January 28, 2007 
Sunday January 28, 2007
Lockheed Martin said fourth-quarter profit rose 28%, and raised its full-year profit forecast, as the world's No. 1 defense contractor posted strong sales of military gear and electronic systems. The company, which is taking advantage of record levels in U.S. defense spending, extra funding for operations in Iraq and more outsourcing of government technology projects, said profit increased to $729 million. Revenue rose 6% to $10.8 billion.
Shares of Lockheed, best known for its F-16 fighter jets and Patriot missiles, hit an all-time high earlier this week, and have risen 50% in the past 12 months. That makes it one of the leaders of the Standard & Poor's Aerospace and Defense index, which jumped 29% in that time. The S&P 500 Index is up about 14% over the past 12 months.
(2007-01-28 15:44:51 SGT)
[Biz]
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