The world's largest aerospace defence company Lockheed Martin on Monday reported falling earnings amid rising pension costs, according to dpa. Earnings fell 17 per cent to 734 million dollars, or 1.88 dollars per share, from 882 million dollars, or 2.15 dollars per share, in the year-earlier period. Revenue fell 2 per cent to 11.2 billion dollars, the company said from Bethesda, Maryland. The firm suffered from higher than expected pension costs related to the global financial crisis and expects the costs to be a factor throughout the rest of the year. Rival Boeing is to announce its earnings Wednesday. It said earlier this month that it would cut about 1,000 jobs in its integrated defence systems branch.
