Lockheed warns on sequester

Investor's Business Daily

The maker of F-35 fighter jets and Aegis missiles said Q1 EPS jumped 14% to $2.33, beating views by 29 cents. Revenue dipped 2% to $11.1 bil, but topped views for $10.3 bil. Lockheed Martin (LMT) expects the sequester to have a greater effect in Q2 and Q3. The company sees revenue for the full year at the low end of its $44.5 bil-$46 bil range forecast in Jan. Shares rose 1.3% to 97.06. Orbital Sciences (ORB), a rocket and satellite maker, said Q1 EPS climbed 50% to 33 cents, beating views by 11 cents. Revenue fell 1% to $334.8 mil, missing estimates of $359.7 mil. Shares rose 3.9% to 17.30.

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