US government computer contracts, NASA, boost Lockheed earnings

Business Materials 23 April 2008 01:58 (UTC +04:00)

Lockheed Martin Corp Tuesday reported a 5.8 per cent rise in first quarter earnings, buoyed by higher sales from US government computer contracts and development of a new NASA spacecraft. ( dpa )

Net income increased to 730 million dollars, and revenues were up 7.6 per cent to 9.98 billion dollars.

The US Federal Bureau of Investigation (FBI) sealed a contract valued up to 1 billion dollars with Lockheed over 10 years, to create a modern identification system for catching criminals and terrorists.

The company's space systems division boosted sales by 5 per cent to 1.88 billion dollars, including work on the new Orion spacecraft that is to replace NASA's space shuttle programme, set to shut down by 2010.