|Photo: Mark Doliner (flickr)
[Avionics Today 04-21-2015] Lockheed Martin reported a nearly flat first quarter for 2015, with net sales totaling $10.1 billion, compared to $10.7 billion in the first quarter of 2014. Net earnings were down in the first quarter, at $878 million compared to $933 million during the same period last year.
In the aeronautics division, net sales decreased 7 percent from 2014 to $3.1 billion, which the company attributed fewer aircraft deliveriess for the C-130, C-5, F-16 and F-22 programs. The decreases were partially offset, however, by an increase in F-35 production.
Going forward, the company is looking to assess risks related to the F-35 program and the problems posed by sequestration and unstable government funding, among other initiatives.