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July 05, 2015 9:12 PM ET

IT Services

Company Overview of Lockheed Martin Information Systems & Global Solutions, Inc.

Company Overview

Lockheed Martin Information Systems & Global Solutions, Inc. provides information technology consulting and enterprise solutions to federal agencies and corporate clients. The company offers system integration, application development and maintenance, business process management, industrial engineering, and logistics services. Additionally, it provides research and consulting on strategic programs to department of defense, civil government agencies, homeland security, and National Aeronautics and Space Administration (NASA). The company was formerly known as Lockheed Martin Information Technology and changed its name to Lockheed Martin Information Systems & Global Solutions, Inc. in February...

700 North Frederick Avenue

Gaithersburg, MD 20879

United States

Founded in 2007

Phone:

301-240-7247

Key Executives for Lockheed Martin Information Systems & Global Solutions, Inc.

Defense President
Chief Technology Officer and Vice President
Executive Vice President
Vice President of Finance and Business Operations
Age: 51
Vice President of Health and Life Sciences
Compensation as of Fiscal Year 2015.

Lockheed Martin Information Systems & Global Solutions, Inc. Key Developments

Information Systems & Global Solutions Reports Earnings Results for the First Quarter Ended March 29, 2015

Information Systems & Global Solutions reported earnings results for the first quarter ended March 29, 2015. For the period, the company reported net sales of $1,869 million compared to $1,910 million a year ago. Operating profit was $136 million compared to $174 million a year ago. The decrease of operating profit was primarily attributable to lower operating profit of approximately $70 million for performance matters on an international program during the first quarter of 2015 and about $10 million for the amortization of intangible assets associated with recently acquired businesses. The decreases were partially offset by higher operating profit of approximately $35 million due to risk retirements on various programs and increased volume on recently awarded programs. The decrease of Net Sales were attributable to lower net sales of approximately $160 million due to decreased volume as a result of the wind-down or completion of certain programs (including Persistent Threat Detection System program) affected by in-theater force reductions, lower customer funding levels (primarily command and control programs), and the impacts of increased re-competition of existing contracts coupled with the fragmentation of large contracts into multiple smaller contracts that are awarded primarily on the basis of price (CMS-CITIC).

Lockheed Martin Information Systems & Global Solutions, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Lockheed Martin Information Systems & Global Solutions, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales of $1,988 million against $2,101 million a year ago. The decreases were primarily attributable to lower net sales of approximately $120 million for the fourth quarter and about $645 million for 2014 due to the wind-down or completion of certain programs, driven by reductions in direct warfighter support (including Joint Improvised Explosive Device Defeat Organization and Persistent Threat Detection System) and defense budgets tied to command and control programs; and approximately $145 million for the fourth quarter and about $490 million for 2014 due to a decline in volume for various ongoing programs, which reflects lower funding levels and programs impacted by in-theater force reductions. Operating profit was $175 million against $189 million a year ago. The decreases were primarily attributable to the activities mentioned above for sales, lower risk retirements and reserves recorded on an international program, partially offset by severance recoveries related to the restructuring announced on Nov. 14, 2013 of approximately $15 million for the fourth quarter of 2014 and about $20 million for the year ended Dec. 31, 2014. For the year, the company reported net sales of $7,788 million against $8,367 million a year ago. Operating profit was $699 million against $759 million a year ago.

Lockheed Martin Information Systems & Global Solutions Reports Earnings Results for the Second Quarter and Six Months Ended June 29, 2014

Lockheed Martin Information Systems & Global Solutions reported earnings results for the second quarter and six months ended June 29, 2014. For the second quarter, the company reported net sales of $1,941 million compared to $2,101 million a year ago. Operating profit was $175 million compared to $194 million a year ago. The company’s net sales decreased $160 million, or 8%, compared to the same period in 2013. The decrease was primarily attributable to lower net sales of approximately $175 million due to the wind-down or completion of certain programs; and about $150 million due to a decline in volume for various programs, which reflects lower funding levels and programs impacted by in-theater force reductions. The company’s operating profit decreased $19 million, or 10%, compared to the same period in 2013. The decrease was primarily attributable to the activities mentioned above for sales. For the six months, the company reported net sales of $3,851 million compared to $4,207 million a year ago. Operating profit was $349 million compared to $383 million a year ago.

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