Lockheed Martin 2004 Annual Report Download - page 5

Download and view the complete annual report

Please find page 5 of the 2004 Lockheed Martin annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 78

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78

For example, we will satisfy a critical military requirement for persistent airborne surveillance and reconnais-
sance with the Aerial Common Sensor. In addition, the Warfi ghter Information Network – Tactical (WIN-T) will
provide forces with mobile, high-speed, highly secure communications. We extended our collaboration with industry
on these programs.
These systems directly address the Department of Defense’s priority for network-enabled systems that can bring
new capabilities to the battlespace. The progress we have made in network-enabled capabilities is burnishing our
reputation as a large-scale systems integrator with strengths not only in the platform components of the network but
in all aspects of its architecture.
In 2005, we will open the Lockheed Martin Center for Innovation in Suffolk, Virginia, which will be crucial to
developing the advanced technology solutions of the future. Participants at the Center and at any point in our Global
Vision Network will have simultaneous access to data, simulations and rich analytical tools and processes as they
work together. The Lockheed Martin Center for Innovation is indicative of the passion for invention that runs
through this Corporation at all levels, and our commitment to reinvest in our enterprise. We are a company of
50,000 dedicated engineers and scientists with systems and software engineering capabilities independently assessed
as among the best in the world.
We are committed to the development of new technologies that can be directly applied to the customers’
requirements in any of our three core markets: Defense/Intelligence, Homeland Security and Federal Government
agencies with a focus on Information Technology (IT). With about 25 percent of our sales in the IT fi eld, Lockheed
Martin is the largest provider of IT solutions and services to the U.S. government.
Lockheed Martin management will look for smart acquisitions, but we are setting the bar appropriately high for
quality, strategic fi t and return on invested capital. That means we are looking for congruence with core competen-
cies, alignment with our businesses, ease of integration and superior cash returns.
In 2004, we acquired Sippican Holdings Inc., a supplier of naval electronics systems. Sippican’s expertise in
surface ship countermeasures, anti-submarine warfare training and submarine communications systems will enhance
our global capabilities in naval warfare, unmanned underwater vehicles and low-cost manufacturing. Turning to
divestitures, in 2004 we sold our interest in New Skies and Comsat General, two satellite services companies, and
early this year sold our interest in Intelsat. In 2004, we terminated our merger agreement with Titan Corporation, as
Titan did not satisfy all the closing conditions.
From left to right: Katherine Kerchner, Vice
President, Finance & Business Operations,
Integrated Systems & Solutions; Stan D. Sloane,
Executive Vice President, Integrated Systems
& Solutions; Ron M. Nakamoto, Vice President
& General Manager of Intelligence Systems,
Integrated Systems & Solutions.
LOCKHEED MARTIN ANNUAL REPORT 2004