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The company said strong growth in its
international businesses also boosted results in the fourth
quarter.
U.S. weapons makers have increased their exposure outside the
United States to offset a drop in spending by the U.S. military.
The Pentagon is trying to cut about $1 trillion in projected
spending from its budget over a decade as required by a 2011
law.
Lockheed, which also makes satellites and coastal warships,
announced in October a $1 billion contract from General Dynamics
Corp <GD.N> to provide turrets for tanks ordered by Britain's
armed forces.
The company, which got about 17 percent of its revenue from
international markets in 2013, did not break up sales by
geography on Tuesday.
Revenue at the company's aeronautics division increased 6
percent to $4.14 billion. The business, Lockheed's largest,
makes the F-35 fighter jets, which is the world's most expensive
defense program with an estimated cost of $400 billion.
F-35 production contracts rose by about $260 million in the
quarter ended Dec. 31, the company said.
Total revenue rose to $12.53 billion from $11.53 billion.
Analysts on average expected revenue of $11.89 billion,
according to Thomson Reuters I/B/E/S.
Net earnings jumped 85 percent to $904 million, or $2.82 per
share, from $488 million, or $1.50 per share, a year earlier.
Lockheed's shares closed at $195.68 on the New York Stock
Exchange on Monday. Up to Monday's close, the stock had risen 33
percent in the past 52 weeks, compared with a 15 percent rise in
the S&P 500 index <.SPX>.
(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by
Joyjeet Das and Saumyadeb Chakrabarty)
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