WASHINGTON – Lockheed Martin Corp , the Pentagon's biggest supplier, expects to feel the continued effect of U.S. budget cuts in 2014, with domestic military sales likely to drop by six percent after a four percent drop in 2013, Chief Financial Office Bruce Tanner told reporters on Tuesday.
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Tanner said Lockheed expected additional orders for the F-35 fighter jet - the company's single biggest program - from Australia, South Korea, Israel and Singapore, but he did not expect those orders to close in 2014.
He said he expected a first quarter swing to pension income, that had helped buoy earnings, to continue for rest of year.
(Reporting by Andrea Shalal, Editing by Franklin Paul)