Lockheed Martin Corporation today reported second quarter 2013 net sales of $11.4 billion compared to $11.9 billion in the second quarter of 2012.  Net earnings in the second quarter of 2013 were $859 million, or $2.64 per diluted share, compared to $781 million, or $2.38 per diluted share, in the second quarter of 2012.  Cash from operations in the second quarter of 2013 was $623 million, compared to cash from operations of $845 million in the second quarter of 2012.

Second quarter 2013 net earnings included a non-cash FAS/CAS pension adjustment of $120 million, which reduced net earnings by $74 million, or $0.23 per diluted share, compared to a non-cash FAS/CAS pension adjustment of $208 million, which reduced net earnings by $128 million, or $0.39 per diluted share, in the second quarter of 2012.

“Overall, we had strong operational performance and program execution across all business areas this quarter, enabling us to increase 2013 financial guidance for operating profit, earnings per share, and cash from operations," said Lockheed Martin Chief Executive Officer and President Marillyn Hewson.  "Even in an uncertain budget environment, our portfolio of products and capabilities, robust cash generation, and outstanding performance by our 116,000 employees, continue to deliver value to our customers and shareholders."