Tuesday, April 21, 2009

Defense Stocks Sector Close-Up; Lockheed Martin Corporation (NYSE:LMT) reports first quarter 2009 net earnings of $666 million

Defense Stocks Sector Close-Up; Lockheed Martin Corporation (NYSE:LMT) reports first quarter 2009 net earnings of $666 million

POINT ROBERTS, Wash., DELTA, B.C. –April 21, 2009 – www.HomelandDefenseStocks.com, a leading global investor and industry portal for the defense and security sector, within Investorideas.com, presents a sector close-up on defense stocks trading April 21, 2009. Lockheed Martin (NYSE:LMT) was trading at $77.1, up $1.43 (1.89%) 11:20am ET on earnings news.

Defense stocks trading April 21, 2009:

EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received an $850,000 follow-on order for custom power supply units to be used in a shipboard application for a multi-year marine program in Europe. The order, which was received from a prime multi-national customer, is for the continuing support of systems currently in service and is to be delivered during 2009 and 2010. ERI was trading at $1.55, up 0.03 (1.97%)

Honeywell International Inc. (NYSE:HON) trading up at $30.34, with gains of$ 0.55 (1.86%) 11:25AM ET

L-3 Communications (NYSE: LLL ) trading at $ 72.97, up $1.45 (2.03%) 11:26AM ET. The Company announced news on Monday of a $203 million order of seven additional aircraft by the JCA Joint Program Office. This January 2009 order brings the current contract total to 13 aircraft. L-3 leads an industry team that includes aircraft manufacturer Alenia Aeronautica, Rolls Royce, Honeywell and Dowty.

Lockheed Martin Corporation (NYSE:LMT) reported first quarter 2009 net earnings of $666 million ($1.68 per diluted share), compared to $730 million ($1.75 per diluted share) in 2008. Net earnings in 2009 included higher pension expense as previously disclosed in our January 22, 2009 earnings release and in our 2008 Form 10-K. In 2009, the FAS/CAS pension adjustment was ($114) million, which decreased net earnings by $74 million ($0.19 per share). In 2008, the FAS/CAS pension adjustment was $32 million, which increased net earnings by $21 million ($0.05 per share).
Net sales for the first quarter of 2009 were $10.4 billion, compared to $10.0 billion in 2008. Cash from operations for the first quarter of 2009 was $1.2 billion, compared to $880 million in 2008.
Lockheed Martin was trading at $77.16, up $1.43 (1.89%) 11:20am ET

Northrop Grumman Corporation (NYSE:NOC) trading at $ 46.95, down $0.05 (-0.11%) 11:28am ET

Raytheon Company (NYSE: RTN ) trading up at $41.35, gains of $0.12 (0.29%) 11:29am ET

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