Lockheed reports sales growth in face of recessionApril 22nd, 2009 - 11:41 am ICT by IANS
New York, April 22 (DPA) The world’s largest defence firm, Lockheed Martin Corp, demonstrated its sturdiness Tuesday in the face of a sharp downturn in the US and global economies, reporting first-quarter sales growth of 3.9 percent to $10.4 billion.
The company credited increased non-defence sales of computer services to US government agencies for the revenue improvement.
Profit in the January-March quarter slipped 8.8 percent due to rising pension costs.
Lockheed still hiked its 2009 profit forecast.
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Tags: computer services, defence firm, downturn, first quarter sales, global economies, government agencies, lockheed martin, lockheed martin corp, pension costs, quarter sales growth, recession, revenue improvement