Lockheed Martin 2004 Annual Report Download - page 6

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The past year has been marked not only by fi nancial performance but by strong operational performance
as well. In one program central to U.S. Air Force modernization, the Lockheed Martin-led F/A-22 industry
team reached a new level of program maturity with reliable production, solid performance and expanding
capabilities. The U.S. Air Force recently completed a successful Initial Operational Test and Evaluation,
satisfying the service’s requirement for an advanced air dominance combat aircraft that will be mission-capable
for decades to come.
A Lockheed Martin team also completed key milestones on the Space-Based Infrared System (SBIRS) High,
a next-generation missile warning system. In 2004, Singapore became the 11th nation to participate in the F-35 Joint
Strike Fighter program. The program also began worldwide production to build the fi rst Systems Development and
Demonstration aircraft. The successful Patriot Advanced Capability (PAC-3) fl ight test program in 2004 validated the
system’s capability to engage multiple missile threats.
We enjoyed some impressive competitive wins in 2004 including:
❚ A contract to design and build the fi rst of the U.S. Navy’s new Littoral Combat Ships
❚ A contract to build the MUOS narrow-band tactical satellite communications system for the U.S. Navy
❚ A fi ve-year Information Technology contract from the Environmental Protection Agency
❚ A seven-year contract to provide information technology support to the Social Security Administration,
continuing a long-term partnership to help the agency meet its challenges for the future
❚ Leadership of a team to provide managed network services — including video, data, voice and wireless —
across the entire U.S. Postal Service under its Universal Computing Connectivity program
❚ The majority of launch vehicle contracts awarded worldwide, including orders for six Atlas V and six
Proton missions
The year did have some disappointments. A U.S. District Court ruling upheld the termination for default of the
Pit 9 environmental remediation contract. The court concluded that Lockheed Martin must repay progress payments
with interest, as well as cover decontamination and decommissioning costs. This impact was refl ected in our 2004
fi nancial results.
From left to right: Ralph D. Heath, Executive
Vice President, Aeronautics; Lee E. Rhyant,
Executive Vice President and Site General
Manager, Marietta; Tom Burbage, Executive
Vice President and General Manager, F-35 Joint
Strike Fighter Program Integration; June R.
Shrewsbury, Vice President, F-16 Programs.
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