The world's largest defense contractor said April 25 that while sales grew in the company's most recent quarter, profit declined because of several charges. Lockheed Martin reported sales in the quarter hit $11.1 billion, up from $10.4 billion during the same three-month period a year earlier. The contractor reported quarterly profit of $763 million, down 15 percent from $898 million the prior year. Lockheed noted that several issues took a toll on earnings. The company revised its estimated costs to...
