Lockheed Martin Corporation
Industry: Aerospace & Defense

Lockheed Martin Corporation, an advanced technology company, was formed in March 1995 with the merger of two of the world's premier technology companies, Lockheed Corporation and Martin Marietta Corporation. Headquartered in Bethesda, Maryland, Lockheed Martin employs about 130,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. Lockheed Martin is led by Vance D. Coffman, chairman and chief executive officer and Robert J. Stevens, president and chief operating officer.

Business Summary
Lockheed Martin Corporation researches, designs, develops, manufactures, integrates, operates and sustains advanced technology systems, products and services. The Company serves customers in domestic and international defense and civil markets, with its principal customers being agencies of the United States Government. The Company operates in five business segments: Aeronautics, Electronic Systems, Space Systems, Integrated Systems and Solutions, and Information and Technology Services. During the year ended December 31, 2004, approximately 80% of the Company's net sales were made to the United States Government, either as a prime contractor or as a subcontractor, 16% of its net sales were made to foreign governments and 4% of its net sales were made to commercial customers. In December 2004, the Company acquired Sippican Holdings, Inc, a supplier of naval electronics systems. In January 2005, the Company sold its 42% stake in the joint venture company TUSAS Aerospace Industries, Inc.

Financial Summary
LMT engages in the research, design, manufacture and integration of advanced technology products and services ranging from aircraft, spacecraft and launch vehicles to missiles, electronics, IT, and energy management. For the 6 months ended 6/05, revenues rose 4% to $17.78B. Net income rose 41% to $830M. Revenues reflect higher sales volume in surface system programs at MS2 and in PT&TS. Net income also reflects significantly improved operating margins.