Lockheed Martin 2010 Annual Report Download - page 3

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1
DEAR FELLOW SHAREHOLDERS,
Thanks to the solid execution of our business strategy in 2010 and the efforts of the dedicated professionals who work for this
industry-leading enterprise, we can confidently report that Lockheed Martin remains on course both operationally and financially.
For 2010 we met or exceeded our expectations for financial performance. Sales grew 4 percent to $45.8 billion, and we increased our
earnings per share to $7.94. Our backlog of orders also increased to more than $78 billion at the end of 2010.
On stand from left to right: Linda R. Gooden, Executive Vice President, Information Systems & Global Solutions; Robert J. Stevens, Chairman and Chief
Executive Officer; Christopher E. Kubasik, President and Chief Operating Officer.
Foreground from left to right: Bruce L. Tanner, Executive Vice President and Chief Financial Officer; Marillyn A. Hewson, Executive Vice President, Electronic
Systems; Joanne M. Maguire, Executive Vice President, Space Systems; Ralph D. Heath, Executive Vice President, Aeronautics. Photograph taken February 9, 2011 in
front of the fi rst F-35B Short Takeoff/Vertical Landing (STOVL) variant of the Joint Strike Fighter (BF-1) at the Naval Air Station Patuxent River. On the day of the
photograph, BF-1 fl ew three sorties, accomplishing three short takeoffs, one slow landing, and two vertical landings while demonstrating its unique and game-
changing capabilities.