Summary Box: Lockheed Martin says 3Q profit fell

AP News
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Posted: Oct 19, 2010 3:34 PM
Summary Box: Lockheed Martin says 3Q profit fell

THE QUARTER: Lockheed Martin's net income fell 28 percent on expenses associated with buyouts for 600 executives and because of tighter national defense budgets.

THE F-35: Britain will order fewer of F-35 fighter planes than previously expected. Lockheed says that sort of volatility is to be expected with any new plane.

THE FUTURE: It expects sales to grow in the low single digits next year, and it shaved $600 million from its revenue expectation for the rest of this year.