Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION (LMT)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Lockheed Martin Corporation : For Lockheed's F-16 fighter, still buyers after all these years

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/14/2012 | 01:37am CEST

WASHINGTON (Reuters) - The end of the line for the F-16 jet fighter is set to go on receding, the top executive of manufacturer Lockheed Martin Corp said on Thursday.

"We've been having that conversation for over a decade," Chief Executive Robert Stevens said in an interview. Pressed on his current expectation when it would close, he shot back: "We'll have that conversation for over a decade."

As recently as last year, the last jet had been projected to emerge from the company's Fort Worth, Texas, plant by mid-2013 unless new export orders came.

They did. Lockheed is now building F-16s for Egypt, Oman and Iraq - enough to keep the line going until at least January 2016, Joseph LaMarca, a company spokesman, said by email.

More than 4,500 F-16s have been delivered to 26 nations since production began in 1975. Major upgrades to all F-16 versions are being offered by Lockheed, the Pentagon's No. 1 supplier by sales.

Stevens said he expected continuing demand for the F-16 even as customers start to trade up to Lockheed's radar-evading F-35 Joint Strike Fighter, now in early production.

"We'll certainly have a line in position to satisfy that demand," he said in an interview with Marillyn Hewson, the chief operating officer who is to replace him as Lockheed CEO effective January 1.

One significant potential customer is Taiwan, which has sought as many as 66 new F-16C/D models for years. Lockheed representatives steered questions about any such sale to the governments involved.

President Barack Obama's administration told Senator John Cornyn in a letter dated April 27 that it shared his concerns about Taiwan's "growing shortfall" in fighter planes as its F-5s are retired, notwithstanding an upgrade of 145 early-model F-16A/Bs that is getting under way. Cornyn is a Texas Republican.

The White House promised him at the time that Mark Lippert, a new assistant secretary of defense for Asian & Pacific security affairs - whose nomination to the job previously had been blocked by Cornyn to press for the sale - would seek a "near-term course of action" to address Taiwan's fighter gap, "including through the sale to Taiwan of an undetermined number of new U.S.-made fighter aircraft."

Sampson Li, director of the military mission of the Taipei Economic and Cultural Representative Office in Washington, declined in an emailed statement to comment directly on whether Taiwan still wanted new F-16s now that the A/B upgrade is to begin.

"Our future procurement of advanced fighters from the United States should be comprehensively evaluated by both sides to conform to Taiwan's future defense needs," he said.

Rupert Hammond-Chambers, president of the U.S.-Taiwan Business Council, said Taiwan's fighter gap was becoming more "acute" as the upgrade of its A/B models took them out of service temporarily.

"It is clear that the White House sees the sale of new fighters as part of its future commitment to Taiwan," he said by email.

A spokesman for Cornyn, Drew Brandewie, said that the United States was obligated to make sure Taiwan can defend itself against China, which deems the self-governing island a rogue province subject to a return to the fold, by force if necessary.

Asked whether Cornyn might use his senatorial privilege again to hold up confirmation of President Barack Obama's nominees, Brandewie said in an email that all options were being left open.

In December, the administration notified the U.S. Congress of plans to sell a second batch of 18 F-16s to Iraq, a deal that is expected to close soon.

In addition, Romania and Bulgaria are among those interested in either second-hand aircraft or new models, said LaMarca, the Lockheed spokesman.

(Reporting By Jim Wolf; Editing by Tim Dobbyn)

By Jim Wolf

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LOCKHEED MARTIN CORPORATIO
02:23pLOCKHEED MARTIN CORPORATION : Today’s Research Reports on Stocks to Watch: Lockh..
AC
01:31pEurofighter doesn't expect U.S. to use nuclear certification to tilt German j..
RE
01:24pLOCKHEED MARTIN : 61-- power supply - and other replacement parts
AQ
12:23pLOCKHEED MARTIN : MILITARY $10.89 Million Federal Contract Awarded to Lockheed M..
AQ
11:56aBOEING : adds German partners for heavy-lift helicopter battle
RE
04/24Wall Street slides as high bond yields fan cost worries
RE
04/24Lockheed lauds U.S. arms sales push, sees foreign sales rising
RE
04/24Lockheed Martin shares fall as cash flow outlook disappoints
RE
04/24Lockheed Martin shares fall as cash flow outlook disappoints
RE
04/24LOCKHEED MARTIN : Canada Certifies Increased Gross Weight for S-92 Helicopters
PU
More news
News from SeekingAlpha
10:27aPENTAGON : King Stallion is behind schedule 
08:23aFacebook Steps Up To The Earnings Plate, Comcast Bids For Sky (Wall Street Br.. 
08:16aLockheed sweetens India fighter jet bid 
07:34aMarket Is Creating Bargains - Cramer's Mad Money (4/24/18) 
07:00aWALL STREET BREAKFAST : Facebook Back In The Spotlight 
Financials ($)
Sales 2018 51 167 M
EBIT 2018 6 719 M
Net income 2018 4 452 M
Debt 2018 12 597 M
Yield 2018 2,42%
P/E ratio 2018 22,21
P/E ratio 2019 19,31
EV / Sales 2018 2,25x
EV / Sales 2019 2,12x
Capitalization 102 B
Chart LOCKHEED MARTIN CORPORATIO
Duration : Period :
Lockheed Martin Corporatio Technical Analysis Chart | LMT | US5398301094 | 4-Traders
Technical analysis trends LOCKHEED MARTIN CORPORATIO
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 379 $
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Marillyn A. Hewson Chairman, President & Chief Executive Officer
Rodney A. Makoske SVP-Corporate Engineering, Technology & Operations
Bruce L. Tanner Chief Financial Officer & Executive Vice President
Nolan Don Archibald Lead Independent Director
Joseph W. Ralston Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
LOCKHEED MARTIN CORPORATION11.70%102 497
UNITED TECHNOLOGIES CORPORATION-3.22%98 779
AIRBUS SE16.52%90 975
GENERAL DYNAMICS9.13%67 354
RAYTHEON21.44%65 817
NORTHROP GRUMMAN CORPORATION16.03%62 102