Defense contractor Lockheed Martin reported on Tuesday that its first-quarter profit dropped marginally from last year, as margins declined slightly as revenues grew year-over-year.
The company raised its full-year earnings forecast due to a favorable resolution of tax matters
The company maintained their revenue projection.
Net earnings for the quarter were $530 million or $1.50 per share, compared to $533 million or $1.41 per share in the prior year.
Earnings from continuing operations increased to $548 million or $1.55 per share from $519 million or $1.38 per share in 2010.
