WASHINGTON, April 23 Lockheed Martin Corp
expects across-the-board U.S. budget cuts to have a
bigger impact on the company's results in the second and third
quarters of 2013, Chief Financial Officer Bruce Tanner told
reporters on Tuesday.
Tanner said Lockheed's sales and earnings were higher than
expected in the first quarter, despite the implementation on
March 1 of mandatory budget cuts that will affect the Pentagon,
Lockheed's biggest customer, and the U.S. government.
But those cuts are likely to have a bigger impact on
Lockheed's results in the coming two quarters, he said.