Lockheed Martin pushes forward with realignment
Posted by Dr. Earl R. Smith II in Government Contracting, News, tags: adviser, advisory board, consulting, Defense Contracting, director, dr earl r smith, dr earl r smith ii, earl r smith ii, earl smith, federal circle, federal contracting, government contracting, managing partner, the federal circleSecond-quarter report shows bump in civilian sales, while defense and intell lag
Lockheed Martin Corp. continues to make what it deems are necessary adjustments to its internal structure with key changes to its Information Systems and Global Solutions unit, according to a second quarter 2010 financial report issued today.
The company announced last month that it plans to sell two parts of its business to cut costs. In addition, Lockheed executives also have realigned several IS&GS businesses, according to today’s report. They’re merging Readiness and Stability Operations and Savi Technology, Inc., with the Simulation, Training and Support business. They also will form the Global Training and Logistics line of business inside the Electronic Systems unit.
The company posted a 3 percent increase in net sales, reaching $11.44 billion in the second quarter of 2010, while earnings from continuing operations fell by a percentage point, the report states. The corporation’s net sales rose from $11.1 billion from the second quarter of 2009 to $11.4 billion.
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