Lockheed Martin posts flat earnings, raises forecast Bethesda-based Lockheed Martin Corp. reported relatively flat earnings in the first quarter, but raised its annual forecast due to a favorable tax settlement.
Lockheed Martin, the Washington area’s largest private employer with 22,500 workers in the D.C. area, reported net income in the first three months of 2011 of $530 million, or $1.50 per diluted share, compared with $533 million, or $1.41 per diluted share, in the year-ago period.
Net sales in the quarter rose to $10.6 billion from $10.3 billion.
Lockheed Martin increased its 2011 financial outlook for earnings from continuing operations to a range of between $6.95 and $7.25 per diluted share from a previously announced range of between $6.70 and $7.00 per diluted share due to a favorable resolution of certain tax matters with the IRS.
LivingSocial users smarter, richer
D.C.-based LivingSocial subscribers are slightly more affluent and more educated than those of rival Groupon Inc., according to a report by Nielsen Co.
The Web-tracking company reports that 46 percent of LivingSocial subscribers have at least a bachelor’s or postgraduate degree, compared with 39 percent for Chicago-based Groupon. LivingSocial users are 49 percent more likely than the average American online to make $150,000 or more, while Groupon’s visitors are 30 percent more likely, the Nielsen survey found.
For both, nearly two-thirds of subscribers are female.
American Capital Agency profits surge to $133.5 million
Profits at Bethesda-based American Capital Agency Corp. more than doubled last quarter as increased investment boosted net interest income more than fivefold.
American Capital, which invests in residential mortgage securities, reported net income of $133.5 million in the first quarter, compared with net income of $53.2 million a year ago.
Net interest income in the quarter rose to $128.8 million compared with $23.3 million in the year-ago period.
Earnings per share fell to $1.48 in the quarter compared with $2.13 in the year-ago period, due to approximately 65 million more shares being issued and remaining outstanding from stock offerings.
