Defense contractors post higher earnings

Defense contractors Lockheed Martin and Northrop Grumman said their third-quarter pro ts rose on higher sales of government computer services and defense electronics. Lockheed Martin said net income climbed 39% to $427 million, or 96 cents a share, from $307 million, or 69 cents a share, a year earlier. Analysts expected earnings of 90 cents a share. Northrop said its pro t increased 5.4% to $293 million, or 81 cents a share, from $278 million, or 76 cents, a year earlier. Excluding one- time items, earnings were 80 cents a share, vs. analysts’ average estimate of 69 cents.