More on Lockheed Martin (LMT +2.2% to $98.01) Q1: net profit +13.9% to $761M, helped by lower...

|About: Lockheed Martin (LMT)|By:, SA News Editor

More on Lockheed Martin (LMT +2.2% to $98.01) Q1: net profit +13.9% to $761M, helped by lower tax expenses but hurt by special items of $151M. Sales breakdown: aeronautics -14% to $3.19B, partly because of lower F-16 deliveries; Missiles & Fire Control +13% to $1.99B; Space Systems +4% to $1.96B. Affirms 2013 EPS outlook of $8.80-9.10 vs consensus of $8.92, but says revenue will be at lower end of projection of $44.5-46B vs consensus of $45.12B, with sequestration to slice $825M off the figure. Drexel Hamilton upgrades LMT to Buy from Hold and gives it a price target of $110 vs $90 previously.