By a News Reporter-Staff News Editor at Defense & Aerospace Week -- Lockheed Martin (NYSE: LMT) reported first quarter 2016 net sales of $11.7 billion, compared to $10.1 billion in the first quarter of 2015. Net earnings in the first quarter of 2016 were $794 million, or $2.58 per share, compared to $878 million, or $2.74 per share, in the first quarter of 2015. Cash from operations in the first quarter of 2016 was $1.6 billion, compared to $1.0 billion in the first quarter of 2015.
First quarter 2016 net earnings included special charges for workforce reductions at the Corporation's Aeronautics and Information Systems & Global Solutions (IS&GS) business segments of $99 million, which decreased net earnings $64 million, or $0.21 per share.
"We achieved strong operational and financial results this quarter and took actions to further strengthen our competitive and strategic position in the market," said Lockheed Martin Chairman, President and CEO Marillyn Hewson. "We're confident that these actions will increase value for both our customers and stockholders."
Keywords for this news article include: Lockheed Martin.
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