WASHINGTON, Feb 28 (Lockheed Martin Corp,
the Pentagon's largest supplier, on Thursday said its programs
could be materially reduced, delayed or canceled if Congress
does not avert across-the-board budget cuts due to take effect
Friday, which would drive sales and earnings lower than
If the reductions do take effect, Lockheed said its 2013
sales would drop more sharply than the current outlook, which
forecast a decline in the mid single-digit percentage range.
Earnings and cash flow would follow a similar pattern, the
company said in its annual report filed Thursday with the U.S.
Securities and Exchange Commission. It said financial results in
future years could also be materially affected.