Looking at Lockheed Martin Corp.?s activity last week, it?s easy to see why the Bethesda-based advanced technology and defense firm continues to provide strong returns for investors.
On Monday, the company secured two contracts totaling $27 million to manage energy efficiency programs for Energy Trust of Oregon and Pacific Gas & Electric Co.
Tuesday, Lockheed signed an agreement with Virginia-based IriTech to provide biometric security solutions for law enforcement, homeland security, military and intelligence customers.
Then on Friday, the firm said it would partner with privately held Starwood Energy Group Global LLC of San Francisco, to pursue utility-scale solar generation projects in California and the southwestern United States.
Those are just a few of the projects and developments coming from Lockheed on a daily basis, continuing to generate revenue and income for the firm.
“[Lockheed] is the largest player in a heavily concentrated military industry, with nearly 20 percent more in revenue than its next-largest competitor,” according to Morningstar, a Chicago-based investment research firm. “This size enables the firm to spread fixed costs across more programs while better utilizing its increasingly flexible asset base.”
Last month, Lockheed reported third-quarter net earnings increased 22 percent to $766 million from $629 million from the same period last year. Sales increased 16 percent to $11.1 billion from $9.6 billion last year.
“These results reflect the outstanding efforts of our talented work force and leadership team, both of which are responsible for delivering consistently strong operational and financial performance,” Bob Stevens, chairman, president and chief executive officer of Lockheed, said in a statement.
Lockheed employs about 140,000 people worldwide. The corporation reported 2006 sales of $39.6 billion. Through September, Lockheed?s 2007 sales were $31 billion.
Since the beginning of the year, Lockheed?s share price has increased more than 18 percent.
Lockheed Martin is part of The Examiner Top 10, a portfolio of some of the largest publicly traded companies in the Baltimore region.
