Lockheed Martin reports higher sales, cash flow in Q3

NEW YORK, Oct. 21 (Xinhua) -- Lockheed Martin Corporation on Tuesday reported third-quarter sales of 18.6 billion U.S. dollars, up from 17.1 billion dollars in the same period last year.

Net earnings for the quarter were 1.6 billion dollars, or 6.95 dollars per share, slightly higher than 6.80 dollars per share a year earlier.

Cash from operations surged to 3.7 billion dollars in the third quarter, compared to 2.4 billion dollars a year earlier. Free cash flow rose to 3.3 billion dollars, up from 2.1 billion dollars last year.

Strong demand from Lockheed Martin's customers continues, based on the effectiveness and reliability of its products and systems, according to the company's Chairman, President and CEO Jim Taiclet.

The company said it is "investing aggressively" in new digital technologies and physical production capacity to meet defense priorities of the United States and other customers. Enditem