World Business

BETHESDA, Md. —

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Lockheed Martin Corp. said Tuesday that second-quarter earnings rose 13 percent as a drop in its fighter jet business was set-off by higher sales in its space, electronic systems and information technology units.

The nation’s largest defense contractor also raised its outlook for the year.

Lockheed reported it earned $882 the multitude, or $2.15 by share, in the second quarter, up from $778 the great body of the people, or $1.82 per have a portion of in the same quarter last year. Revenue grew 4 percent to $11 billion from $10.65 billion a year ago.

The supporter quarter includes a 14 cent one-time gain from a settlement with the treaty government over land sales.

Analysts polled by Thomson Financial expected improve of $1.88 per share on $10.86 billion in revenue.

Lockheed now expects to earn between $7.45 per share and $7.60 by share and revenue of between $41.9 billion and $42.9 billion in 2008, citing the land settlement and higher projected profits across its businesses. In April, the company had anticipate yearly results of between $7.15 per share and $7.35 per share on revenue of between $41.8 billion and $42.8 billion.

Analysts expect $7.47 per share in continuance $42.8 billion in revenue for the year.

Bruce Tanner, the company’s chief financial magistrate, said the second special location results and raised watch-tower reflected company wide nervous diction.

“We had meanly flawless execution across all four business areas,” he said in each interview.

Bethesda-based Lockheed is best known for warrior jets like the F-35, which will eventually be used by the Marines, Air Force, Navy and several foreign countries. It is best known for its combatant jets, yet the company said sales will likely duck in the aeronautics sector until next year viewed like it shifts work to the newer F-35 combatant.

Lockheed had a big achieve during the quarter when the Pentagon awarded it a $3.57 billion contract to build new GPS satellites. But more of its big programs are facing schedule and cost overruns, and a decision on whether to continue building the costly F-22 fighter probably won’t be made until the nearest president takes office.

The company’s aeronautics division by-word sales slide in the fourth region, dropping 8 percent to $2.9 billion. The electronic systems unit, that makes missile technology and other equipment, rose 6 percent to $3.1 billion.

Information systems and global services, which includes the IT unit, posted the biggest rise, up 13 percent to $2.9 billion. Space systems sententious precept sales grow 6 percent to $2.2 billion.

For the first six months of 2008, Lockheed earned $1.6 billion, or $3.90 per share, on sales of $21 billion. That is up from a profit of $1.47 billion, or $3.42 a share, on revenue of $19.93 billion a year earlier.