LMT FY 2007 Earnings Report — Lockheed Martin Corporation Revenue & Financial Results | Market Cap Arena

Lockheed Martin CorporationLMT

FY 2007 Earnings

Reported February 28, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$41.9B	—	$39.6B	—	5.7%
Op. Income	$4.5B	—	$4.0B	—	14.5%
Gross Margin	10.1%	—	8.7%	—	1.4pp
Net Margin	7.2%	—	6.4%	—	0.9pp
EPS (Diluted)	$7.10	—	$5.80	—	22.4%
Free Cash Flow	$3.3B	—	$2.9B	—	14.2%

Revenue Flow

Item	Amount
REVENUE	$41.9B
Cost of Revenue	$37.6B
GROSS PROFIT	$4.2B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$37.6B
OPERATING INCOME	$4.5B
Interest Income	$0
Interest Expense	$352M
Other Income/Expenses	-$159M
INCOME BEFORE TAX	$4.4B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$3.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$819M
EBIT	$4.7B
EBITDA	$5.5B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$41.9B
Cost of Revenue	$37.6B
GROSS PROFIT	$4.2B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$37.6B
OPERATING INCOME	$4.5B
Interest Income	$0
Interest Expense	$352M
Other Income/Expenses	-$159M
INCOME BEFORE TAX	$4.4B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$3.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$819M
EBIT	$4.7B
EBITDA	$5.5B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$3.0B
Depreciation & Amortization	$819M
Stock-Based Compensation	$149M
Deferred Income Tax	$110M
Other Non-Cash Items	-$124M
Change in Working Capital	$254M
OPERATING CASH FLOW	$4.2B
Capital Expenditure	-$940M
Acquisitions (Net)	-$311M
Purchases of Investments	$48M
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	-$32M
Common Stock Repurchased	-$2.1B
Common Dividends Paid	-$615M
Other Financing Activities	$124M
NET CASH FROM FINANCING	-$2.3B
FREE CASH FLOW	$3.3B
Net Change in Cash	$736M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.6B
Short-Term Investments	$333M
Net Receivables	$4.9B
Inventory	$1.7B
Other Current Assets	$1.3B
TOTAL CURRENT ASSETS	$10.9B
PP&E (Net)	$4.3B
Goodwill	$9.4B
Intangible Assets	$463M
Long-Term Investments	$0
Tax Assets	$760M
Other Non-Current Assets	$3.1B
TOTAL NON-CURRENT ASSETS	$18.0B
TOTAL ASSETS	$28.9B
Account Payables	$2.2B
Short-Term Debt	$104M
Deferred Revenue	$4.3B
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$9.9B
Long-Term Debt	$4.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4.9B
TOTAL NON-CURRENT LIABILITIES	$9.3B
TOTAL LIABILITIES	$19.1B
Common Stock	$409M
Additional Paid-In Capital	$0
Retained Earnings	$11.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.9B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.8B
Minority Interest	$0
TOTAL EQUITY	$9.8B
TOTAL LIABILITIES & EQUITY	$28.9B
Total Debt	$4.4B
Net Debt	$1.8B