Four Major Defense Contractors Report 3rd Quarter Earnings Growth

Four of the largest American defense contractors released third quarter financial results on Oct. 26, 2011.

Lockheed Martin reported $665 million in earnings from continuing operations, an increase of 19 percent from the third quarter of 2010. Earnings per share from continuing operations grew 30 percent to $1.99 over that time.

Lockheed increased its dividend 33 percent to $1.00 per share during the period.

Northrop Grumman reported its earnings per share from continuing operations increased 23 percent over the third quarter of 2010 to $1.86. Those earnings were $520 million, a 16 percent increase year-over-year.

The company repurchased 12.7 million shares in the period, and 28.4 million in the past year.

General Dynamics reported that it earned $665 million from continuing third quarter operations, or $1.83 per share on a fully diluted basis. That’s up from $649 million, or $1.70 per share, in the third quarter of 2010.

Net earnings per share on a fully diluted basis increased 5.9 percent over the year-ago period to $1.80.

Boeing reported net income of $1, 098, 000, more than 30 percent greater than its result in the third quarter of 2010. Earnings from operations increased 24 percent to $1, 714, 000 over that period.

Boeing drew in $397 million in earnings from military aircraft sales, a 27 percent increase year-over-year.

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