On April 24, defense contractor Lockheed Martin
- Revenues were flat due to declines in the aeronautics and space systems segments, partially offset by growth in information systems and global services.
- Fiscal 2007 sales are anticipated to be $40.35 billion to $41.35 billion, including the impact of the acquisitions of Management Systems Designers and RLM Systems.
- Investors in Motley Fool CAPS have collectively rated Lockheed Martin's stock three stars out of five -- solidly average, in other words.
(Figures in millions, except per-share data.)
Income Statement Highlights|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$9,275 |
$9,214 |
0.7% |
|
Net Profit |
$690 |
$591 |
16.8% |
|
EPS |
$1.60 |
$1.34 |
19.4% |
|
Diluted Shares |
432.1 |
441.3 |
(2.1%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
9.8% |
8.3% |
1.6 |
|
Operating Margin |
11.0% |
10.5% |
0.5 |
|
Net Margin |
7.4% |
6.4% |
1.0 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$3,074 |
$3,139 |
(2.1%) |
|
Accounts Rec. |
$4,902 |
$4,832 |
1.4% |
|
Inventory |
$1,375 |
$1,916 |
(28.2%) |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$2,099 |
$1,950 |
7.6% |
|
Long-Term Debt |
$4,405 |
$4,762 |
(7.5%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$1,482 |
$1,185 |
25.1% |
|
Capital Expenditures* |
$179 |
$251 |
(28.7%) |
|
Free Cash Flow |
$1,303 |
$934 |
39.5% |
Free cash flow is a Fool's best friend.
Related Foolishness:
- Foolish Forecast: Locking In on Lockheed
- Raytheon Swimming in Cash
- Foolish Forecast: Get to Know Northrop
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