Key Developments: Lockheed Martin Corp (LMT)

Latest Key Developments (Source: Significant Developments)

Lockheed Martin Corp Secures Contract
Wednesday, 8 May 2013 09:20am EDT

AnythingIT, Inc.announced that it has been awarded a 3 year nationwide contract to provide IT electronics recycling and remarketing services to Lockheed Martin Corporation . Full Article

Lockheed Martin Corp Receives $167 Million NASA Mission Operations Contract Extension
Wednesday, 1 May 2013 09:03am EDT

Lockheed Martin Corp announced that it has been awarded a $166.8 million contract option from NASA for facilities development and operations at Johnson Space Center that support human spaceflight. The one-year contract extension exercised by NASA extends the period of performance through Sept. 30, 2014 and brings the total contract value to $1 billion. Under the contract, Lockheed Martin provides support for the hardware, software, data and display systems used to train for and execute all human spaceflight missions supported by the Mission Operations Directorate. The contract provides systems services support within the Christopher C. Kraft Jr. Mission Control Center and the Jake Garn Mission Simulator and Training Facility, and at various backup control centers. Lockheed Martin is currently working with NASA to update the Mission Control Center, training facilities and software applications for the next generation of human spaceflight including commercial space services and future exploration programs. The update will reduce operations and maintenance costs and is expected to be completed in 2014. Full Article

Lockheed Martin Corp Declares Second Quarter 2013 Dividend
Thursday, 25 Apr 2013 10:27am EDT

Lockheed Martin Corp announced that Board Of Directors has authorized a second quarter 2013 dividend of $1.15 per share. The dividend is payable on June 28, 2013 to holders of record as of the close of business on June 3, 2013. Full Article

Lockheed Martin Corp Sees FY 2013 Revenue Guidance At Low End Of Prior Range; Reaffirms FY 2013 Earnings Guidance
Tuesday, 23 Apr 2013 07:25am EDT

Lockheed Martin Corp announced that after considering the potential sequestration estimate along with its first quarter 2013 results, the Company has revised its fiscal 2013 outlook to indicate that the Company expects its net sales to be near the low end of the range provided in January, while the other outlook ranges remain unchanged. The Company provided the following fiscal 2013 outlook in January: net sales of $44.500-$46.000 billion, consolidated operating profit of $4.350-$4.50 billion and diluted earnings per share (EPS) of $8.80-$9.10. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $45.119 billion, EBIT of $4.404 billion and EPS of $8.92 for fiscal 2013. Full Article

Lockheed Martin Corp Secures Contract
Tuesday, 16 Apr 2013 08:00am EDT

Lockheed Martin Corp announced that it is upgrading the command and control system that allows Joint Force Air Component Commanders to deploy air assets, execute air tasking orders and synchronize management of air operations. The U.S. Air Force selected Lockheed Martin to modernize the air tasking order capabilities within the Theater Battle Management Core System (TBMCS). As the engine of the Air Operations Center, TBMCS directs flying operations for all airborne assets, including fighters, bombers, tankers, unmanned aerial vehicles, helicopters and cruise missiles. This Air Tasking Order Management System (ATOMS) delivery order was awarded under the Command and Control Applications and Information Services Development contract, a five-year, $249 million, multiple-award indefinite delivery/indefinite quantity program. Under this contract, Lockheed Martin will update the software that drives air tasking capabilities that Combined Air Component Commanders use to plan, organize and direct joint U.S. air operations. Full Article

European Aeronautic Defence and Space Company EADS NV's Cassidian Wins Contract with Canadian Airforce in Partnership with Lockheed Martin Corp Canadian Subsidiary
Thursday, 21 Mar 2013 08:00pm EDT

European Aeronautic Defence and Space Company EADS NV announced that its defence division, Cassidian has won a EUR 50 million program to equip the airfields of the Royal Canadian Airforce with airport surveillance radars. The Canadian contracting authority Public Works and Services Canada selected Cassidian to deliver seven of its ASR NG airport surveillance radars to improve the flight safety on Canadian airbases and to enhance the integration of military aviation into civil air traffic. Cassidian is working together with Lockheed Martin Corp's Lockheed Martin Canada as a local partner in this project. Full Article

ASG Group Ltd Announces Update In relation To Acquisition Discussions With Lockheed Martin Corp
Thursday, 21 Mar 2013 07:08pm EDT

ASG Group Ltd announced that further to the announcement on March 21, 2013, discussions with Lockheed Martin Corp have now ceased without resulting in a superior proposal. The company remains engaged in discussions with a number of other parties regarding alternative proposals. At the date of this announcement, these discussions are continuing in various forms; however there is no guarantee that there will be a binding proposal that can be put to shareholders from any party. Full Article

Lockheed Martin Corp Wins $100 Million Aegis Combat System Engineering Agent Contract
Tuesday, 5 Mar 2013 02:45pm EST

Lockheed Martin Corp announced that the U.S. Navy has awarded Lockheed Martin a 5-year, $100 million contract to provide combat system engineering services - including the design, development, integration, test and life cycle support - for all Aegis-equipped ships. Lockheed Martin has partnered with the Navy for decades as the Aegis combat system engineering agent (CSEA), while evolving the system through nine technology baselines to outpace a wide array of dynamic and evolving threats. Lockheed Martin developed its CSEA offering with its partners Mission Solutions Engineering, General Dynamics Advanced Information System and Integrated Defense Technologies. Lockheed Martin will perform the CSEA work at its Moorestown, N.J. facility. Full Article

Lockheed Martin Corp Receives $197 Million U.S. Army Contract For Guided MLRS Rocket Production
Wednesday, 30 Jan 2013 10:00am EST

Lockheed Martin Corp announced that it has received a $197 million contract option from the U.S. Army for Guided Multiple Launch Rocket System (GMLRS) Unitary rocket production.This contract option was attached to the GMLRS Production Lot 7 contract, which now has a total funded value of $550.8 million. The GMLRS Production Lot 7 contract was originally awarded to Lockheed Martin in July 2012. This move enables the service to pay less for each rocket than if a separate 2013 production contract were issued.The new allotment of rockets will be delivered to the U.S. Army and Marine Corps beginning in September 2014. Work will be performed at the Lockheed Martin facilities in Camden, Ark., and Dallas. Full Article

Lockheed Martin Corp Declares First Quarter 2013 Dividend
Thursday, 24 Jan 2013 01:15pm EST

Lockheed Martin Corp announced that its board of directors has authorized a first quarter 2013 dividend of $1.15 per share. The dividend is payable on March 29, 2013 to holders of record as of the close of business on March 1, 2013. Full Article

Lockheed Martin Corp News

Exclusive: U.S. Air Force to move forward target date for F-35 use

WASHINGTON - The U.S. Air Force plans to start operational use of Lockheed Martin Corp.-built F-35 fighter jets in mid-2016, a year earlier than planned, using a similar software package as the Marine Corps, two sources familiar with the plans said on Monday.

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Earnings vs. Estimates

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