{"id":85470,"date":"2011-01-28T20:23:21","date_gmt":"2011-01-28T12:23:21","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/boeing-lockheed-martin-space-businesses-slow-down-in-2010\/"},"modified":"2011-01-28T20:23:21","modified_gmt":"2011-01-28T12:23:21","slug":"boeing-lockheed-martin-space-businesses-slow-down-in-2010","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/boeing-lockheed-martin-space-businesses-slow-down-in-2010\/","title":{"rendered":"Boeing, Lockheed Martin Space Businesses Slow Down in 2010"},"content":{"rendered":"

[01-28-11] Boeing<\/strong> and Lockheed Martin<\/strong> reported similar 2010 end-year results, which showed both major U.S. satellite manufacturers struggling in their space business units.
\n    Lockheed Martin Space Systems\u2019 2010 fourth quarter net sales fell 13 percent compared to 2009. The company\u2019s space transportation business took a $233 million hit in revenues due to lower volume on commercial launch vehicle activities, the Orion program and the space shuttle external tank program. 
\n    Sales declines in all three lines of the division in the final three months of 2010 resulted in an overall 5 percent drop in net sales for the full year. The company\u2019s satellite division saw an $82 million decline in revenues in the fourth quarter that it attributed to lower volume in government satellite activities, which was partially offset by higher volume on commercial satellites. The company delivered a single commercial satellite in the fourth quarter and performed no commercial launches.
\n    Lockheed\u2019s satellite division reported a 7 percent decrease ($17 million) in operating profit due to lower volume and a decline in the level of favorable performance adjustments on government satellite programs in 2010. Full-year growth in Lockheed Martin\u2019s space transportation operating profit was more than offset by a decline in satellites operating profit.
\n    Despite the poor performance in space systems, Lockheed Martin Corp. reported an increase in fourth quarter 2010 net sales at $12.8 billion, compared to $12.2 billion in 2009. \u201cFor the year, sales and backlog grew. Combined with strong cash flow, I believe it was very solid performance in a very demanding year. Looking ahead, our employees are focused on providing increasingly affordable solutions to our customers and continuing strong financial results for our shareholders,\u201d Lockheed Martin Chairman and CEO Bob Stevens said in a statement.
\n    Boeing\u2019s Defense, Space and Security division revenue also declined by 5 percent for the year to $31.9 billion due to on lower volume in network and space systems and a 4 percent drop in military aircraft revenue to $8.2 billion.
\n    Boeing Space System\u2019s 2010 fourth quarter revenue essentially was unchanged at $2.4 billion, while the division\u2019s operating margin grew to 9 percent on improved performance in Space and Intelligence Systems. The improvement was driven by the company\u2019s contract with the Mexican government for three geomobile satellites and the fact that the completion of the first flight of the X-37B Orbital Test Vehicle.
\n    Boeing\u2019s Defense, Space and Security 2010 full-year backlog increased slightly to  $65.2 billion \u2014 about two times the unit\u2019s expected 2011 revenue. 
\nBoeing reported a solid overall fourth-quarter 2010 net income of $1.2 billion on revenues of $16.6 billion, but those results mostly reflected a favorable tax settlement and a one-time contribution to Boeing\u2019s charitable trust. 
\n    \u201cWe\u2019re entering 2011 well-positioned for growth, with a large order book, increasing global demand for commercial airplanes, greater clarity around our domestic defense outlook, and significant international defense sales opportunities,\u201d Boeing Chairman, President and CEO Jim McNerney said in a statement.<\/p>\n

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[01-28-11] Boeing and Lockheed Martin reported similar 2010 end-year results, which showed both major U.S. satellite manufacturers struggling in their space business units.     Lockheed Martin Space Systems\u2019 2010 fourth quarter net sales fell 13 percent compared to 2009. The company\u2019s space transportation business took a $233 million hit in revenues due to lower volume […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-85470","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85470"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=85470"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85470\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}