ULA Keeps Lockheed Space Profit up as Revenue Declines in 2013

Lockheed Martin expects lower revenue and sharply lower operating profit at its Space Systems division in 2014 on reduced military satellite sales and a hefty restructuring charge following the company's plant shutdowns and workforce reductions.

The company said the Space Systems division posted record operating earnings in 2013 in part because of increased income from its 50 percent share of United Launch Alliance (ULA) of Denver, which provides Delta and Atlas rocket launches to the U.S. government.

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