Lockheed Martin Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - Lockheed Martin Corp. (LMT) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $1.91 billion, or $7.40 per share. This compares with $2.05 billion, or $7.47 per share, in last year's fourth quarter.

Excluding items, Lockheed Martin Corp. reported adjusted earnings of $2.01 billion or $7.79 per share for the period.

Analysts on average had expected the company to earn $7.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.1% to $18.99 billion from $17.73 billion last year.

Lockheed Martin Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $1.91 Bln. vs. $2.05 Bln. last year. -EPS (Q4): $7.40 vs. $7.47 last year. -Analyst Estimates: $7.39 -Revenue (Q4): $18.99 Bln vs. $17.73 Bln last year.