LMT FY 2008 Earnings Report — Lockheed Martin Corporation Revenue & Financial Results | Market Cap Arena

Lockheed Martin CorporationLMT

FY 2008 Earnings

Reported February 26, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$42.7B	—	$41.9B	—	2.1%
Op. Income	$5.1B	—	$4.5B	—	13.3%
Gross Margin	10.9%	—	10.1%	—	0.8pp
Net Margin	7.5%	—	7.2%	—	0.3pp
EPS (Diluted)	$7.86	—	$7.10	—	10.7%
Free Cash Flow	$3.5B	—	$3.3B	—	5.9%

Revenue Flow

Item	Amount
REVENUE	$42.7B
Cost of Revenue	$38.1B
GROSS PROFIT	$4.6B
R&D Expenses	$698M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$0
Operating Expenses	$698M
Cost & Expenses	$38.1B
OPERATING INCOME	$5.1B
Interest Income	$0
Interest Expense	$341M
Other Income/Expenses	-$423M
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$50M
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$845M
EBIT	$5.0B
EBITDA	$5.9B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$42.7B
Cost of Revenue	$38.1B
GROSS PROFIT	$4.6B
R&D Expenses	$698M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$0
Operating Expenses	$698M
Cost & Expenses	$38.1B
OPERATING INCOME	$5.1B
Interest Income	$0
Interest Expense	$341M
Other Income/Expenses	-$423M
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$1.5B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$50M
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$845M
EBIT	$5.0B
EBITDA	$5.9B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$3.2B
Depreciation & Amortization	$845M
Stock-Based Compensation	$155M
Deferred Income Tax	$72M
Other Non-Cash Items	$476M
Change in Working Capital	-$344M
OPERATING CASH FLOW	$4.4B
Capital Expenditure	-$926M
Acquisitions (Net)	-$233M
Purchases of Investments	$0
Sales/Maturities of Investments	$272M
Other Investing Activities	-$20M
NET CASH FROM INVESTING	-$907M
Net Debt Issuance	-$612M
Common Stock Repurchased	-$2.9B
Common Dividends Paid	-$737M
Other Financing Activities	$342M
NET CASH FROM FINANCING	-$3.9B
FREE CASH FLOW	$3.5B
Net Change in Cash	-$480M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.2B
Short-Term Investments	$61M
Net Receivables	$5.3B
Inventory	$1.9B
Other Current Assets	$1.3B
TOTAL CURRENT ASSETS	$10.7B
PP&E (Net)	$4.5B
Goodwill	$9.5B
Intangible Assets	$355M
Long-Term Investments	$0
Tax Assets	$4.7B
Other Non-Current Assets	$3.7B
TOTAL NON-CURRENT ASSETS	$22.8B
TOTAL ASSETS	$33.4B
Account Payables	$2.0B
Short-Term Debt	$242M
Deferred Revenue	$4.5B
Other Current Liabilities	$3.7B
TOTAL CURRENT LIABILITIES	$10.5B
Long-Term Debt	$3.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16.5B
TOTAL NON-CURRENT LIABILITIES	$20.0B
TOTAL LIABILITIES	$30.6B
Common Stock	$393M
Additional Paid-In Capital	$0
Retained Earnings	$11.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$9.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.9B
Minority Interest	$0
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$33.4B
Total Debt	$3.8B
Net Debt	$1.6B