Lockheed Martin 2001 Annual Report Download - page 4

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Lockheed Martin Annual Report >>> 2
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Dear Fellow Shareholder,
We, like all Americans, stood united and resolute in a year marked by tragedy and uncertainty.
We are proud of the contributions our employees have made before and since September 11 in
service to our customers, the nation and the world.
Your company is focused on the critical tasks ahead, equipping our armed forces and the forces
of our allies, as they secure peace in a changing world. Lockheed Martin is also a united team,
focused on its comprehensive strategy to transition from recovery to disciplined growth and to
further drive a culture of performance at every level.
By all indicators, we achieved our goals with 2001 representing a second consecutive year of
consistently strong operational and financial performance and enhanced shareholder value. It
also included winning the Joint Strike Fighter program, arguably the most important competition
in our Corporation’s history.
As a premier systems integrator, we continue to meet the critical priorities of our customers.
That singular vision has had its rewards. Last year our achievements included:
◆Mission success for our customers
◆Meeting or exceeding financial goals
◆Winning the critical competitions
◆Shaping the portfolio to adjust to changing market conditions.
We believe our most vital product is our customers’ success. We know that 100 percent mission
success is the only satisfactory objective. Anything short of this is not what we want to deliver.
However, we did improve with hard work and attention to details as our dedicated employees,
partners and suppliers have strengthened the confidence customers have in our ability to deliver as
promised. Of the 1,434 measurable events in 2001, we can point to a 98 percent rate of mission
success, up from 95 percent in 2000. The result: We achieved customer-determined award fees
averaging 95 percent, a record level for the Corporation.
Among our achievements in 2001: In the Systems Integration business area, our Patriot Advanced
Capability-3 (PAC-3) Missile successfully completed development testing and continues in low-rate
production; in the Space Systems Company, we delivered the first Atlas V launcher on schedule
to Cape Canaveral; and our Technology Services people provided immediate and invaluable
service to government agencies and the nation in their response at the sites of the September 11
terrorist attacks.
Following a highly successful test-flight program, the Department of Defense on October 26
awarded Lockheed Martin a contract for the design of the Joint Strike Fighter (JSF), a stealthy,
supersonic, multi-role fighter for the U.S. Air Force, Navy and Marine Corps, as well as the
U.K. Royal Air Force and Royal Navy.
For Lockheed Martin, key partners and team members, the program means a significant source
of future business. The Joint Strike Fighter also demonstrated the innovations in technology and
(left) Vance D. Coffman, Chairman and Chief Executive Officer
(right) Robert J. Stevens, President and Chief Operating Officer
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