Lockheed Martin, the Pentagon's largest supplier, beat analysts' forecasts on Tuesday with a 10 percent rise in second-quarter earnings and lifted its full-year profit forecast.
Its share prices rose Tuesday after the earnings report. (Click here for the latest price.)
Lockheed, which builds F-35 fighter jets, Aegis missiles and new coastal warships, reported net earnings of $859 million, up from $781 million a year earlier. Earnings per share rose to $2.64 from $2.38.
Revenues fell about 4 percent to $11.4 billion. Analysts polled by Thomson Reuters had expected earnings of $2.20 per share on revenue of $11.1 billion.
"Overall, we had strong operational performance and program execution across all business areas this quarter, enabling us to increase 2013 financial guidance for operating profit, earnings per share and cash from operations," Chief Executive Marillyn Hewson said in a statement.