Errant Comma Costs Lockheed

Lockheed Martin Corp. said it lost an unspecified amount of money as a result of a misplaced comma in a contract to sell C-130J Hercules military-transport aircraft to an international customer.

The mistake was made in an equation adjusting the sales price for inflation-rate changes, and the unidentified purchaser insisted on sticking to the terms when inflation turned out to be less than expected, the Financial Times reported Friday.

Lockheed Martin said earlier this month that profit this year and next will be lower than expected because of high costs and delayed deliveries. The company said excessive costs attributable to the C-130J will cut earnings by $275 million, or 70 cents a share, this year.

Lockheed Martin shares rose 31 cents to close at $35.25 on the New York Stock Exchange.