(Reuters) -Lockheed Martin (LMT) reported on Tuesday that his profit in the second quarter had plunged by around 80%, after the American defense giant recorded before tax losses of $ 1.6 billion, mainly linked to a classified program in its aeronautical segment.
The actions of the company fell 8% in trade prior to the market.
Its net income dropped to $ 342 million, or $ 1.46 per share, compared to $ 1.64 billion, or $ 6.85 per share, a year earlier
Lockheed said that the burden came from difficulties with a classified program in its aeronautical company and certain international helicopter programs in its Sikorsky unit.
(Report by Utkarsh Shetti in Bengaluru; edition by Tasim Zahid)
