Lockheed Records First Quarter Earnings Increase

Lockheed Martin has reported a six percent rise in earnings in the first quarter, driven by sales of space equipment, missiles and information technology systems.

Lockheed says it earned US$730m, up from US$690m, in the first quarter of 2007.

Revenue for the period increased to US$9.98bn from US$9.27bn during the same period.

Sales were up 7.6 percent to US$9.98bn.

By Elizabeth Clifford-Marsh