UPDATE: Lockheed Martin Posts Lower Q4 Earnings

Lockheed Martin LMT reported downbeat earnings for the fourth quarter. Lockheed Martin's quarterly net earnings from continuing operations declined 14.2% to $488 million, or $1.50 per share, versus a year-ago profit of $569 million, or $1.73 per share. Its revenue fell to $11.5 billion from $12.1 billion. However, analysts were projecting earnings of $2.02 per share on revenue of $11.34 billion. Lockheed expects full-year profit from continuing operations of $10.25 to $10.55 per share on sales of $44 billion to $45.5 billion. Lockheed Martin shares closed at $156.65 yesterday.