Key Developments: Lockheed Martin Corp (LMT)

LMT on New York Consolidated

27 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Lockheed Martin awarded contracts to support U.S. Navy cross domain intelligence sharing solution
Wednesday, 25 Feb 2015 12:30pm EST 

Lockheed Martin Corp:Say that it will continue to support the Navy system that allows secure sharing of sensitive data between unclassified and classified security domains.Says the U.S. Navy recently awarded Lockheed Martin two contracts with a total ceiling value of $90 million to support the Radiant Mercury cross domain solution for five years.  Full Article

Lockheed Martin Corp agrees to pay $62 mln to settle retirement plan lawsuit - AP
Thursday, 19 Feb 2015 07:00pm EST 

Lockheed Martin Corp:Has agreed to pay $62 mln to settle a class-action lawsuit that accused the company of mismanaging employee retirement accounts and using funds with excessive fees - The Associated Press.The settlement still needs to be approved by a judge.The lawsuit, which was first filed in 2006, said Lockheed Martin’s retirement accounts charged high fees and too much of employees’ savings were held in low-yielding funds.More than 100,000 participants in Lockheed Martin’s retirement accounts were represented in the lawsuit, according to Schlichter, Bogard & Denton, the law firm that represented the plaintiffs.Some current and former members of Lockheed Martin’s 401(k) retirement plans will be eligible to receive compensation.The payment amounts will be decided by the court.  Full Article

Lockheed Martin declares first quarter 2015 dividend
Thursday, 29 Jan 2015 12:35pm EST 

Lockheed Martin Corp:Authorized a first quarter 2015 dividend of $1.50 per share.Dividend is payable on March 27 to holders of record as of the close of business on March 2.  Full Article

Lockheed Martin Corp updates on FY 2015 revenue outlook, gives earnings outlook below analysts' estimates
Tuesday, 27 Jan 2015 07:30am EST 

Lockheed Martin Corp:Expects FY 2015 net sales between $43.5 - $45.0 bln.FY 2015 consolidated operating profit between $5.3 - $5.45 bln.FY 2015 diluted earnings per share between $10.80 - $11.10.FY 2015 revenue of $44.26 bln, EBIT of $5.60 mln and EPS of $11.49 - Thomson Reuters I/B/E/S.  Full Article

U.S. Army awards Lockheed Martin Corp $78 mln contract for ATACMS Modernization
Wednesday, 7 Jan 2015 08:54am EST 

Lockheed Martin Corp:Says it received a $78 mln contract from the U.S. Army for upgrades to the Army Tactical Missile System (ATACMS).Says the program's first phase will include flight tests, followed by production beginning in 2016.Says work will be performed at Lockheed Martin facilities in Camden, Arkansas, and Dallas.  Full Article

Lockheed Martin secures to continue building MK 41 vertical launch systems for U.S. Navy
Monday, 15 Dec 2014 09:00am EST 

Lockheed Martin Corp:Says US Navy awarded Lockheed Martin, a $235 mln contract to continue building MK 41 Vertical Launch Systems (VLS) with options that, if exercised, would increase the value to $356 mln.  Full Article

U.S. Air Force awards Lockheed Martin majority share of Paveway II Plus Laser Guided Bomb contract
Tuesday, 11 Nov 2014 10:04am EST 

Lockheed Martin Corp:Receives a $40.3 mln contract from the U.S. Air Force for follow-on production of Paveway II Plus Laser Guided Bomb (LGB) kits.Contract represents the majority share of fiscal year 2014 funding and the eighth award under the five-year indefinite delivery, indefinite quantity contract.Deliveries will begin in June 2015 and will include computer control groups and airfoil groups for GBU-10 and GBU-12 bombs.  Full Article

Lockheed Martin Corp and U.S. Air Force Sustainment Center announce partnership agreement
Monday, 3 Nov 2014 09:00am EST 

Lockheed Martin Corp:Company and U.S. Air Force Sustainment Center recently signed a partnership agreement.Says agreement that establishes common framework and pre-negotiated terms and conditions for long-term partnership work efforts, thereby improving efficiency and readiness to support operations.With this public-private agreement, Lockheed is enabled to immediately execute specific implementation agreements with Air Force Sustainment Center (AFSC) and their Air Logistics Complexes (ALCs), reducing costs and allowing for faster implementation of agreements.  Full Article

Lockheed Martin to acquire Systems Made Simple
Thursday, 30 Oct 2014 09:00am EDT 

Lockheed Martin Corp:Enters into definitive agreement to acquire Systems Made Simple, a provider of health information technology solutions to the U.S. federal government.Subject to the satisfaction of customary closing conditions, the acquisition is expected to close within 30 days.The terms of the agreement were not disclosed and are not material to Lockheed Martin.Once the transaction is closed, the company will report through the Corporation's Information Systems & Global Solutions business area.  Full Article

Lockheed Martin Corp updates on FY 2014 outlook ; gives FY 2015 revenue outlook
Tuesday, 21 Oct 2014 07:24am EDT 

Lockheed Martin Corp:Expects FY 2014 net sales of $45,000 mln, as compared to previous range of $44,000 -- $45,500 mln.Expects FY 2014 consolidated operating profit of $5,600 mln, as compared to previous range of $5,475 -- $5,625 mln.Expects FY 2014 diluted earnings per share of $11.15, as compared to previous range of $10.85 -- $11.15.Expects FY 2015 net sales will decline at a low single digit rate from FY 2014 levels.FY 2014 revenue of $44,841 mln, EPS of $11.13 - Thomson Reuters I/B/E/S.FY 2015 revenue of $44,541 mln - Thomson Reuters I/B/E/S.  Full Article

BRIEF-SSBV Rovsing signs contract with Lockheed Martin

* Says the contract sum amounts to $438,500 and the project is expected to be completed by May 1, 2016 Source text: Further company coverage: (Gdynia Newsroom)

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