US defence giant Lockheed Martin Corporation reported Thursday that it achieved 799 million dollars in net earnings in the fourth quarter of 2007, up nearly 10 per cent year-on-year, according to dpa. The earnings - up from 729 million dollars in the final quarter of 2006 - came net sales of 10.8 billion dollars in the fourth quarter, the same as in the previous year. For the full year 2007, Lockheed Martin - maker of the F-22, F-16 and F-35 jet fighters - achieved net earnings of 3 billion dollars, up 20 per cent from 2.5 billion dollars in the previous year. Net sales in 2007 rose 6 per cent to 41.9 billion dollars, the company said. "I'm very proud of our performance across the board in 2007," company chairman and chief executive officer Bob Steven said. "Our program execution was solid, we won important new business and we continued to shape a balanced business portfolio - all while achieving outstanding financial performance." For 2008, the company is expecting sales to range between 41.8 and 42.8 billion dollars, with earnings to range between 7.05 and 7.25 dollars per share. In 2007 earnings per share were 7.10 dollars.
