For the year to December 31, 2004, Maryland, Bethesda-based Lockheed reported revenue of $7.65 billion, from its two IT services divisions, integrated systems & solutions, and information & technology services, up 16% on 2003. The divisions also made an operating profit of $619 million, up 20% on the year.
Based on ComputerWire’s top 50 IT services rankings, Lockheed now ranks as the ninth largest IT services provider worldwide by revenue, ahead of Capgemini, which made revenue of E5.7 billion ($7.41 billion) in its most recent reported year ended December 31, 2003.
For the fourth quarter of 2004, Lockheed reported an operating profit of $164 million from its two IT services divisions, up 7% on 2003, on revenue that grew 9% to $2.1 billion.
Lockheed has had recent high-profile successes in the IT services arena. Just days ago, it secured a 50% share of a $800 million project to provide IT services contract for the US Department of Housing and Urban Development, resolving a drawn-out dispute between itself and EDS, which had previously been awarded the deal twice.
EDS and Lockheed will become prime contractors for their part of the HUD IT services contract, worth $400 million to each company over the next 10 years. EDS will operate a data center and provide disaster-recovery services, and Lockheed Martin will provide IT services for HUD’s headquarters and its field offices.
