Lockheed Profit on F-35 Jets Will Rise With New Contract
December 17, 2012
Lockheed Martin expects to earn a profit in the high single digits under a new contract signed last week for the fifth batch of its radar-evading F-35 fighter planes, company officials said.
Lockheed executives have said the company earned about 4 percent during its decade-long effort to design and develop the plane.
The company signed the latest contract, to build 32 planes, on Friday. It came after a year of contentious negotiations with the Pentagon, which has dealt with a series of cost overruns and delays in creating the sophisticated jets.