q-zahlen kommen in usa gut bislang gut an:BETHESDA, Md., April 23 (Reuters) -
LOCKHEED MARTIN CORPORATION
Consolidated Results(1)
Preliminary and Unaudited
(In millions, except per share data and percentages)
QUARTER ENDED MARCH 31,
2002 2001 % Change
Net Sales $5,966 $4,747 26%
Earnings before Interest and Taxes $474 $393 21%
Interest Expense $148 $197 (25%)
Pre-tax Earnings $326 $196 66%
Income Tax Expense $102 $70 46%
Effective Tax Rate 31% 36% N/M
Earnings from Continuing Operations $224 $126 78%
Loss from Discontinued Operations 2 ($6) ($21) N/M
Net Earnings $218 $105 108%
Basic Earnings (Loss) Per Share:
Earnings from Continuing Operations $0.51 $0.30 70%
Loss from Discontinued Operations(2) (0.01) (0.05) N/M
Earnings Per Share $0.50 $0.25 100%
Average Basic Shares Outstanding 437.4 423.3
Diluted Earnings (Loss) Per Share:
Earnings from Continuing Operations $0.50 $0.30 67%
Loss from Discontinued Operations(2) (0.01) (0.05) N/M
Earnings Per Share $0.49 $0.25 96%
Average Diluted Shares Outstanding 444.7 427.8
(1) On January 1, 2002, the Corporation adopted SFAS No. 142, "Accounting
for Goodwill and Other Intangible Assets", which eliminates the
amortization of goodwill. As part of its adoption of SFAS No. 142,
the Corporation extended the estimated remaining useful life of
Aeronautics' contract intangibles related to the F-16 program from 6
to 10 years. Consolidated results for 2001 are consistent with
previous disclosures, however, segment results have been adjusted for
the adoption of SFAS No. 142.
(2) On December 7, 2001, the Corporation announced that it would exit its
global telecommunications services business. Includes discontinued
operations of LMGT (World Systems, Mobile Communications, Lockheed
Martin Intersputnik, and COMSAT International) and Lockheed Martin IMS
Corporation (sold in July 2001).
LOCKHEED MARTIN CORPORATION
Segment Results Including Nonrecurring and Unusual Items(1)
Preliminary and Unaudited
(In millions, except percentages)
QUARTER ENDED MARCH 31,
2002 2001 % Change
Systems Integration
Net Sales $2,088 $1,880 11%
Segment EBIT $219 $216 1%
Margins 10.5% 11.5%
Depreciation and Amortization $48 $49
Space Systems(2)
Net Sales $1,870 $1,422 32%
Segment EBIT $122 $198 (38%)
Margins 6.5% 13.9%
Depreciation and Amortization $36 $34
Aeronautics
Net Sales $1,334 $855 56%
Segment EBIT $107 $87 23%
Margins 8.0% 10.2%
Depreciation and Amortization $32 $32
Technology Services(2)
Net Sales $670 $584 15%
Segment EBIT $40 $35 14%
Margins 6.0% 6.0%
Depreciation and Amortization $11 $4
Corporate and Other(2)
Segment EBIT ($14) ($143) N/M
Impact of SFAS No. 142 adoption - $69
Depreciation and Amortization $7 $6 (1) As part of its adoption of SFAS No. 142, the Corporation now reports
all goodwill amortization for periods prior to January 1, 2002 in the
Corporate and Other Segment. Previously, goodwill amortization for the
first quarter 2001 had been reported as follows: Systems Integration
$43 million, Space Systems $10 million, Technology Services $3 million
and Corporate and Other $5 million. Additionally, the Corporation
extended the useful life of Aeronautics' contract intangibles related
to the F-16 program from 6 to 10 years. This change reduces
Aeronautics' annual amortization of contract intangibles by $30
million, or $7.5 million a quarter. Consistent with the treatment of
goodwill, the impact of this contract intangible amortization change
is reflected in the Corporate and Other segment for periods prior to
January 1, 2002.
(2) On December 7, 2001, the Corporation announced that it would exit its
global telecommunications services business. The Corporation
reassigned LMGT's Systems and Technology line of business, and COMSAT
General business to the Space segment, LMGT's Enterprise Solutions --
US to the Technology Services segment and LMGT's telecommunications
equity investments to the Corporate and Other segment. Prior period
amounts have been reclassified to conform to the new reporting
structure.
|
Thread abonnieren
