NEW YORK (Reuters) - Lockheed Martin Corp. is considering selling or shutting down some core satellite and military-aircraft operations as the defense giant expands efforts to reverse flagging financial results, the Wall Street Journal said Friday.
The list of possible moves includes selling or closing some Sunnyvale, Calif., operations that produce commercial and military satellites, or placing them in a new venture with other companies, the Journal said, citing senior company executives.
Similar moves are under consideration related to Marietta, Ga., operations that produce C-130J military-transport planes and fighter aircraft such as the advanced F-22, the paper said.
Lockheed said on Oct. 29 it expects to earn only about $1 a share next year, less than half the $2.15 it had predicted in September.
The executives said the search for a new president and chief operating officer to replace recently-departed Peter Teets would not delay the new moves under consideration, but final decisions could take months, according to the Journal.
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