Martin Marietta

Martin Marietta Corp. said its fourth-quarter profit fell 11% from a year earlier. For all of 1984, the aerospace and defense concern lost $191.8 million, reflecting a previously announced $355-million write-off stemming from Martin Marietta's discontinued aluminum operations. In 1983, the company earned $141.3 million.

The company's earnings from continuing operations in 1984 rose to $176 million from $161.6 million in 1983.

Annual revenue rose to $3.92 billion from $3.23 billion.

In the fourth quarter, Martin Marietta said net income fell to $32.3 million from $37.4 million a year earlier. The year-earlier results had included $5.56 million in earnings from discontinued operations.

Fourth-quarter revenue climbed to $1.12 billon from $914 million.

Thomas G. Pownall, chairman and chief executive of the Bethesda, Md.-based company, said the gain in operating earnings in 1984 was helped by higher profits and sales at Martin Marietta's aerospace and data systems groups.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World