Lockheed Martin profit rises 17 pct in third quarter

Oct 23 (Reuters) - Lockheed Martin Corp, the Pentagon's No. 1 weapons supplier, reported a 17 percent rise in quarterly profit on Tuesday, driven by more production of F-35 fighter jets.

Net income rose to $1.47 billion, or $5.14 per share, in the third quarter, from $963 million, or $3.32 per share, a year earlier.

Net sales rose 16 percent to $14.31 billion. (Reporting by Mike Stone in Washington, DC; Editing by Jeffrey Benkoe)