[Avionics Today 01-29-2015] Lockheed Martin reported a strong year in 2014 for its aerospace division, with aeronautics net sales increasing 6 percent to $797 million compared to 2013. The aerospace and defense manufacturer attributed the increase to higher volume and sustainment activities for its F-35 production contracts and more deliveries for its F-16 program.
Lockheed Martin's F-35C II makes a landing on an aircraft carrier. Photo: Lockheed Martin.
Total operating profit for Lockheed's aeronautics division also increased from $414 million in 2013 to $441 million in 2014.
“We delivered outstanding performance in the fourth quarter, which enabled us to end 2014 with sales growth and a backlog of nearly $81 billion, while also returning more than $3.7 billion to our shareholders,” said Marillyn Hewson, chairman, president and CEO of Lockheed Martin.