Martin Marietta earnings up

April 23, 1991

Martin Marietta Corp. in Bethesda has reported a slight dip in first-quarter sales but a 9 percent gain in earnings.

Net earnings were $71.1 million, or $1.44 per share, compared with $67.1 million, or $1.32 per share, for the same period last year. Net sales were $1.4 billion, down 1.3 percent from $1.42 billion.

The slight sales decrease reflected the absence of $115 million of non-recurring revenue from a commercial Titan missile launch in the first quarter of 1990.

Norman R. Augustine, chairman and chief executive officer, said, "first-quarter results are an excellent beginning to the year, and we believe, a positive indicator for the year and the future."

He said Operation Desert Storm provided a "rare opportunity" for the public and shareholders to see the products the company has worked on, including the Patriot and Hellfire missile systems.

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