[Satellite TODAY 10-20-10] After remaining relatively stagnant for the past two quarters, Lockheed Martin Space Systems’ net sales decreased by 5 percent in its 2010 third quarter, compared with sales in the same period in 2009, Lockheed Martin announced in its latest financial results, released Oct. 19.
    Lockheed Martin’s third quarter space systems net sales performance leaves the company 1 percent behind its 2009 results during the same period.
    While the sales decline largely was due to decreases in space transportation and lower volume on the company’s Orion and space shuttle external tank programs, Lockheed Martin said growth in satellites helped partially offset losses. The sales growth in satellites was attributable to higher volume in government satellite activities, which was offset by lagging commercial satellite sales. Lockheed Martin did not deliver a commercial satellite during the third quarter of 2010, compared to one delivery in the third quarter of 2009.
    Lockheed’s satellite operating profit also increased but was offset by declines in space defense and transportation, which resulted in profits remaining level from the company’s second quarter. Equity earnings represented 33 percent of operating profit at Lockheed Space Systems in both the third quarter of 2010 and the third quarter of 2009.
    Despite the losses in space systems, Lockheed Martin reported overall third quarter 2010 net sales at $11.4 billion — a 6 percent increase over the $10.8 billion in sales it reported in 2009. However, earnings from continuing operations for the third quarter of 2010 were $565 million, compared to $786 million in 2009.