Lockheed Martin reported Tuesday its second quarter net earnings were $580 million ($1.34 per diluted share) compared to $461 million ($1.02 per diluted share) in 2005. Net sales were $10.0 billion, a 7 percent increase over second quarter 2005 sales of $9.3 billion. Cash from operations for the second quarter of 2006 was $1.6 billion.
Net sales for the first six months of 2006 were $19.2 billion, an 8 percent increase over the $17.8 billion recorded in the comparable 2005 period.
Net earnings for the six months ended June 30 were $1.2 billion ($2.68 per share) compared to $830 million ($1.85 per share) in 2005. Cash from operations for the first half of 2006 was $2.8 billion.
"All of our employees continue to focus on meeting customer commitments, capturing new orders, improving productivity and generating cash," said Bob Stevens, the company chairman, president and CEO.
"Our results reflect excellent operational and financial performance across all business areas. This performance enabled us to increase our 2006 financial outlook, as we drive toward our long standing goal of double-digit operating margins," Stevens added.
