July 24, 2018 / 11:36 AM / 23 days ago

Lockheed Martin profit rises 21.8 pct

July 24 (Reuters) - Lockheed Martin Corp, the Pentagon’s No.1 weapons supplier, reported a 21.8 percent rise in quarterly profit on Tuesday, driven by strength in its missiles and fire control unit that makes the THAAD missile defense system.

The company’s net income rose to $1.16 billion, or $4.05 per share, in the second-quarter ended June 24 from $955 million, or $3.28 per share, a year earlier.

Net sales rose 6.6 percent to $13.40 billion. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber)

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