January 29, 2019 / 12:39 PM / 6 months ago

Lockheed Martin posts quarterly profit

Jan 29 (Reuters) - Pentagon's No.1 weapons supplier Lockheed Martin Corp, reported a quarterly profit on Tuesday, compared with a year-ago loss, lifted by demand for its F-35 fighter jets.

The company posted earnings from continuing operations of $1.25 billion, or $4.39 per share, in the fourth quarter ended Dec. 31, compared with a net loss of $817 million, or $2.85 per share.

In the year-ago quarter, the company took a one-time charge of $1.9 billion related to the U.S. tax overhaul.

Net sales rose to $14.41 billion from $13.84 billion. (Reporting by Rama Venkat in Bengaluru; Editing by Sriraj Kalluvila)

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