[Satellite TODAY 04-22-10] While Lockheed Martin’s overall earnings for the 2010 first quarter fell from $666 million in 2009 to $547 million, net sales for the company’s space systems division were unchanged, the company reported in its latest financial results, released April 21.
    Lockheed said space transportation sales growth, spurred by an increase in activity on its United Launch Alliance joint venture, offset declines in strategic and defensive missile systems and satellites. The sales decline in satellites was driven by to lower volume in government satellite activities.
    Lockheed Martin’s overall first quarter 2010 net sales were $10.6 billion, a 3 percent increase over $10.4 billion that the company generated in 2009.
    Lockheed delivered no commercial satellite during the first quarter of 2010 or 2009. Total space systems equity earnings represented 25 percent of the segment’s operating profit in the first quarter of 2010, compared to 15 percent in the first quarter of 2009. Cash from operations in the first quarter of 2010 was $1.6 billion, compared to $1.2 billion in 2009.  

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