Lockheed profits fall

Washington, July 21, SPA -- The world's largest aerospace defence
company Lockheed Martin on Monday reported falling earnings amid
rising
pension costs, according to dpa.

Earnings fell 17 per cent to 734 million dollars, or 1.88 dollars
per share, from 882 million dollars, or 2.15 dollars per share, in
the year-earlier period. Revenue fell 2 per cent to 11.2 billion
dollars, the company said from Bethesda, Maryland.

The firm suffered from higher than expected pension costs related
to the global financial crisis and expects the costs to be a factor
throughout the rest of the year.

Rival Boeing is to announce its earnings Wednesday. It said
earlier this month that it would cut about 1,000 jobs in its
integrated defence systems branch.
--SPA