Lockheed Nabs $1B U.K. Turret Contract Amid Boost In Third-Quarter Profits

By Tony Bertuca / October 21, 2014 at 4:53 PM
General Dynamics U.K. has awarded Lockheed Martin U.K. a $1 billion contract to provide 245 turrets for the Scout Specialist Vehicle GD has been pitching to the U.S. Army as a potential solution to the service's next-generation combat vehicle needs. The news comes as Lockheed posted a 5 percent increase -- $88 million -- in quarterly profits driven by higher pension income, despite a 2 percent drop in revenues to $1.1 billion, according to an Oct. 21 company announcement. "The...

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