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Article: LOCKHEED MARTIN REPORTS $41 MILLION QUARTERLY LOSS.(Business)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- July 26, 1999
CopyrightCOPYRIGHT 1999 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lockheed Martin Corp., the world's second-largest aerospace company, reported a second-quarter loss last week because of increased costs and delays in rocket launches and satellite deliveries.
The loss from operations was $41 million, compared with net income of $289 million a year earlier. Revenue fell 4.9 percent to $6.2 billion from $6.52 billion.
Lockheed Martin had already told analysts to expect the loss, the fourth profit warning the company had issued since November. It also said it will fall short of estimates for ...