Lockheed Martin Reports Second Quarter 2020 ResultsFor further information: Media Contact: Jarrod Agen, 301-897-6412; jarrod.p.agen@lmco.com; Investor Relations Contacts: Greg Gardner, 301-897-6584; greg.m.gardner@lmco.com; David Weston, 301-897-6455; david.weston@lmco.comThe corporation closes its books and records on the last Sunday of the calendar quarter to align its financial closing with its business processes, which was on June 28 for the second quarter of 2020 and June 30 for the second quarter of 2019. The table below reconciles the non-GAAP measure business segment operating profit with the most directly comparable GAAP financial measure, consolidated operating profit.Lockheed Martin Corporation will webcast live the earnings results conference call (listen-only mode) on Tuesday, July 21, 2020, at For additional information, visit the corporation's website: This news release contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin's current expectations and assumptions. Floor or touch workers belong to component assembly teams.Lockheed Martin manages employees through its Full Spectrum Leadership and LM21 programs.Tier2 Functional Leads and Tier3 IPT Leads report to Tier1. 2004. Operating profit increased approximately RMS' net sales in the second quarter of 2020 increased $271 million, or 7 percent, compared to the same period in 2019. If you are contacted over the phone or e-mailed, by a company listing a Lockheed Martin job and requesting your personal information, allegedly on Lockheed Martin's behalf, please do not respond. The test marked Canada’s first use of the combat system with the MK 48 heavyweight torpedo, variant 7AT.In May 2017, during a visit to Saudi Arabia by President Donald Trump, On August 13, 2018 Lockheed Martin announced that the company had secured a $480 million contract from the On November 29, 2018, Lockheed Martin was awarded a On September 23, 2019, Lockheed Martin and NASA signed a $4.6–billion contract to build six or more In January 2020, the Pentagon found at least 800 software defects in the Lockheed Martin's F-35 fighter jets owned by the US Armed Forces during an annual review. Except where required by applicable law, the corporation expressly disclaims a duty to provide updates to forward-looking statements after the date of this news release to reflect subsequent events, changed circumstances, changes in expectations, or the estimates and assumptions associated with them. Operating profit increased approximately Space's net sales in the second quarter of 2020 increased $179 million, or 7 percent, compared to the same period in 2019. The DoJ said the allegations were based specifically on the subsidiary Tools & Metals Inc's inflation of costs between 1998 and 2005, which Lockheed Martin then passed on to the U.S. government under its contracts. The increase was primarily attributable to higher net sales of approximately $700 million for the F-35 program due to increased volume on production, development, and sustainment contracts; and about Aeronautics' operating profit in the second quarter of 2020 increased $147 million, or 25 percent, compared to the same period in 2019. For additional detail on the corporation's FAS/CAS pension adjustment, see the supplemental table included at the end of this news release.The corporation's 2020 financial outlook reflects the currently expected impacts related to COVID-19, however, the ultimate impact of COVID-19 on the corporation's financial outlook for 2020 and beyond remains uncertain.Refer to the supplemental table "Other Financial and Operating Information" included in this news release for a detail of the FAS/CAS operating adjustment, which excludes $215 million of expected non-service FAS income that will be recorded in non-operating income (expense).The corporation closes its books and records on the last Sunday of the calendar quarter to align its financial closing with its business processes, which was on June 28 for the second quarter of 2020 and June 30 for the second quarter of 2019.