Lockheed profit beats forecasts
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Aerospace giant Lockheed Martin Corp. said fourth-quarter profit rose 9.6%, beating analysts’ estimates as more-efficient assembly lines helped compensate for fewer deliveries of F-16 jet fighters. The company raised its 2008 earnings forecast, pushing its stock up the most in more than four years.
Net income rose to $799 million, or $1.89 a share, from $729 million, or $1.68, a year earlier, Bethesda, Md.-based Lockheed said. Sales were unchanged at $10.8 billion.
Lockheed shares rose $4.21, or 4.1%, to $105.90.
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