Lockheed Sales Outlook Dimmed As F-35 Misses Airshow

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http://news.investors.com/business/072014-709440-lockheed-sales-seen-falling-f35-misses-airshow.htm



Lockheed Sales Outlook Dimmed As F-35 Misses Airshow
By GILLIAN RICH, INVESTOR'S BUSINESS DAILY
Posted 08:02 AM ET

Lockheed Martin's F-35 stealth fighters have been cleared for limited flight after their grounding earlier this month, but hopes for a future boost to weakening sales were hampered by its absence at the Farnborough Airshow.

International sales prospects should be a big focus when Lockheed reports second-quarter results Tuesday. Analysts are expecting Lockheed Martin (NYSE:LMT) to post a 0.8% rise in earnings to $2.66 a share.

Revenue is seen falling 2% to $11.14 billion, which would mark the company's eighth straight quarter of declining revenue as the Pentagon draws down spending.

Lockheed's radar-evading plane didn't make its international debut in England as planned. In late June, a United Technologies (NYSE:UTX) Pratt & Whitney engine on the jet fell off and caught fire during takeoff at a Florida air base. The fleet was grounded July 3. While the order was lifted during the air show, the F-35 was still kept out of its U.K. demonstration flyovers.