OREANDA-NEWS. Lockheed Martin [NYSE: LMT] today reported second quarter 2016 net sales of $12.9 billion, compared to $11.6 billion in the second quarter of 2015. Net earnings in the second quarter of 2016 were $1.0 billion, or $3.32 per share, compared to $929 million, or $2.94 per share, in the second quarter of 2015. Cash from operations in the second quarter of 2016 was $1.5 billion, compared to $1.3 billion in the second quarter of 2015.

“The Corporation achieved exceptional operational and financial results in the second quarter,” said Lockheed Martin Chairman, President and CEO Marillyn Hewson. “Our strong performance enabled us to increase our financial guidance for sales, profit, earnings per share and cash from operations, and positions the company to deliver more value to our customers and shareholders.”

CASH DEPLOYMENT ACTIVITIES

The Corporation’s cash deployment activities in the second quarter of 2016 consisted of the following:

  • repurchasing 2.1 million shares for $501 million, compared to 4.9 million shares for $937 million in the second quarter of 2015;
  • paying cash dividends of $501 million, compared to $467 million in the second quarter of 2015;
  • repaying $452 million of long-term notes upon scheduled maturity, compared to no repayments in the second quarter of 2015; and
  • making capital expenditures of $235 million, compared to $191 million in the second quarter of 2015.