3rd-Quarter Earnings Dip 4% at Lockheed

Lockheed Corp., the Calabasas defense giant, reported that its third-quarter earnings slipped 4% to $112 million from $117 million a year earlier.

However, its 1993 third-quarter profit included a onetime after-tax gain of $9 million.

Lockheed’s sales in the three months ended Sept. 25 were $3.17 billion, down 9% from $3.48 billion in sales a year before.

For the recent nine-month period, Lockheed had net income of $308 million, a 7% gain from $287 million in earnings in the comparable period of 1993. Its nine-month sales were nearly flat at $9.29 billion, compared to $9.33 billion.

Lockheed’s pending merger with Martin Marrietta Corp., which would create the world’s largest defense concern, is expected to be completed early next year.