LOCKHEED POSTS Q1 PROFITS: Despite the damage inflicted on the global economy by the coronavirus pandemic, U.S defense industry giant Lockheed Martin posted healthy sales and earnings figures for the first quarter of 2020.

The company beat industry forecasts, reporting net sales of $15.7 billion, compared to $14.3 billion in the first quarter of 2019, and net earnings of $1.7 billion, or $6.08 per share, an 1.5% increase over last year. In addition, fueled by sales of its premier F-35 Joint Strike Fighter jet, Lockheed’s aeronautics division saw profits soar by 15% to $87 million.

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