Lockheed Martin Corp. (NYSE: LMT) released its second quarter 2011 financial results on Tuesday, July 26.
The company reported it earned $2.14 per diluted shared from continuing operations, an 11.5 percent over the $1.92 it reported for the second quarter of 2010.
Earnings from continuing operations rose 3.9 percent to $742 million, from $714 million, over that period.
Lockheed had second quarter net sales of $11.6 billion, a 2.7 percent increase over its second quarter 2010 sales of $11.3 billion.
The company holds $843 million in cash from second quarter operations. It held $1.2 billion in cash in the year-earlier period.
“During the second quarter, we had strong execution across the company even while implementing difficult measures to rightsize our business for an environment that remains challenging, ” said Bob Stevens, Lockheed chairman and CEO. “Our focus in this new reality continues to be on delivering affordable solutions that provide value to both our customers and our shareholders.”
