Lockheed Martin Corp. / LMT

About Lockheed Martin Corp.

6801 Rockledge Dr., Bethesda, Md. 20817
www.lockheedmartin.com | 301-897-6000 | Founded: 1995

Industry: Aerospace And Defense | Category: Top 100 Companies

In the past year, Lockheed recorded significant growth, made six acquisitions, delved into new markets and fought off criticism of some of its large programs. The firm reported $39.62 billion in revenue, up from $37.21 billion in 2005.
Lockheed made up with rival Boeing last year and went into business with the Chicago aerospace giant. After a 16-month wait, federal antitrust authorities approved a Lockheed-Boeing joint venture that will monopolize the market for large government rocket launches. After the deal closed, Lockheed and Boeing dropped countersuits over a 1990s rocket-launch competition. Lockheed had accused Boeing of cheating because some of its employees had proprietary Lockheed information during the competition.
Two women joined Lockheed's executive-vice-president ranks last year. Linda Gooden is head of the firm's new $8 billion information systems and global services division, and Joanne M. Maguire leads the space business.
Two of Lockheed's six acquisitions in the past year were of local companies: Aspen Systems of Rockville and Management Systems Designers of Fairfax. One of the most significant deals was the acquisition of Los Angeles-based Pacific Architects and Engineers, a company that provides services to the military for disaster relief and for peacekeeping and nation-building missions.
It also won several large competitions, including a $70 million Transportation Security Administration contract to supply high-tech identification cards and a $305 million deal to develop an electronic case-management system called Sentinel for the FBI. Lockheed won an upset victory in a competition to build a vehicle to replace NASA's space shuttles.
But Lockheed has been forced to defend its performance on several large programs. In January, the Navy implemented a 90-day stop-work order on Lockheed's littoral combat ship program after the cost of the ships increased significantly.
Also, Lockheed's joint venture with Northrop Grumman to manage the Coast Guard's $24 billion modernization program, known as Deepwater, has faced technical, scheduling and cost problems. Both programs have drawn the attention of Congress, which has grown increasingly critical of over-budget, behind-schedule weapons programs.

Chairman and president: Robert J. Stevens

Chairman and president: Robert J. Stevens

2007 Financial Data

Total employees: 140,000 | Local employees: 22,600