Lockheed Martin Corp. (LMT) reported Q1 '07 earnings of $690 million, or $1.60 a share, up tear to Date (YTD) on $591 million, or $1.34 a share a rise of 17% .
LMT are the US No. 1 defense contractor, with $26.6 billion in 2006 Defense Department prime contract awards, said sales in the three months ended March 31 increased less than 1% to $9.28 billion from $9.21 billion.
Lockheed's expects yearly earnings to increase 35/40 cents a share for an annual $6.20 to $6.35 a share in 2007.
In a little noticed announcement last week the U.S. Air Force has awarded Lockheed Martin a $6 million contract to develop and integrate a demonstration payload that will temporarily transmit a third civil signal on a modernized Global Positioning System Block IIR (GPS IIR-M) satellite.
No explanation has been given for this trial but the further separation of military and cicil signals suggests and attempt to improve the capacity in certain situtations to switch off / deny (or interfere) with the civilian signal - which boat drivers(sic) of the Royal Navy it appears, rely on for navigating in Iraqi/Irani waters.