Lockheed Martin's

Investor's Business Daily

Lockheed Martin's (LMT) Q4 earnings per share fell 11% to $1.91, as higher costs for a pension adjustment and expenses related to income taxes and layoffs ate into profits. Sales edged down less than 1% to $12.1 bil, good enough to top estimates of $11.16 bil. The aerospace giant forecast higher earnings in '13 as cost-control measures take effect. Shares fell 2.9%.

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