Lockheed eyes 2014 as 'trough' for U.S. defense spending

WASHINGTON Thu Jan 23, 2014 7:15am EST

WASHINGTON Jan 23 (Reuters) - Lockheed Martin Corp Chief Financial Officer Bruce Tanner said on Thursday he was hopeful that 2014 would mark a "trough," or "bottoming out," in U.S. military spending, with recent budget agreements paving the way for a more stable outlook going forward.

Tanner said most of the company's projected increase in earnings per share in 2014 was linked to improved pension impacts due to a higher discount rate and lower liabilities after years of pension payments by the company.

He said the company was focused on boosting international sales. Foreign orders accounted for 23 percent of orders received and 17 percent of sales in 2013, with revenues set to grow a "little under 20 percent" in 2014, he said.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.