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LOCKHEED MARTIN CORPORATION

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Lockheed Martin : U.S. Navy Commissions Littoral Combat Ship 13 (Wichita)

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01/12/2019 | 04:34pm EDT

U.S. Navy Commissions Littoral Combat Ship 13 (Wichita)

NAVAL STATION MAYPORT, Fla., Jan. 12, 2019/PRNewswire / -- The U.S. Navy commissioned USS Wichita (LCS 13) - the nation's seventh Freedom-variant Littoral Combat Ship (LCS) - at Naval Station Mayport today before a crowd including active-duty and veteran sailors. This milestone places the ship, built by the Lockheed Martin (NYSE: LMT)-led team into active service.

Unique among combat ships, LCS is designed to complete close-to-shore missions and is a growing and relevant part of the Navy's fleet.

  • Lockheed-Wichita-LCS-13

  • It is fast - capable of speeds in excess of 40 knots.
  • It is automated - with the most efficient staffing of any combat ship.
  • It is lethal - standard equipped with Rolling Airframe Missiles (RAM) and a Mark 110 gun, capable of firing 220 rounds per minute.
  • It is flexible - with 40 percent of the hull easily reconfigurable, integrating capabilities like the Longbow Hellfire Missiles, 30mm guns, and manned and unmanned vehicles targeted to meet today's and tomorrow's missions.

'We are confident that LCS 13 will be what the Navy needs, when the fleet needs it, and we are proud to mark this day with her crew as the Navy welcomes its newest combat ship,' said Joe DePietro, vice president, Small Combatants and Ship Systems, Lockheed Martin. 'We remain focused on delivering these ships as quickly as possible with increasing capability and lethality.'

The LCS is a highly maneuverable, lethal and adaptable ship, designed to support focused mine countermeasures, anti-submarine warfare and surface warfare missions. It is enabled with the COMBATSS-21 Combat Management System, built from the Aegis Common Source Library, which drives commonality among the fleet. The Freedom-variant LCS integrates new technology and capability to affordably support current and future mission capability from deep water to the littorals.

'Like a proud parent, I am so excited to share with you how awesome this ship really is,' said LCS 13's Commanding Officer, Commander Nathan Rowan. 'People ask me about Littoral Combat Ship. Is it a new cruiser or destroyer? Actually it's neither. It's an entirely new category of warship. The LCS packs quite a hefty punch for such a small package.'

There are seven ships in various stages of production and test at Fincantieri Marinette Marine in Wisconsin, where the Freedom-variant LCS is built. The next Freedom-variant in the class is LCS 15, the future USS Billings, slated for delivery this spring.

'We consider it a privilege to support the men and women who will sail this great ship, protecting the United Statesand our allies,' said Jan Allman, President and CEO of Fincantieri Marinette Marine. 'On behalf of the two thousand individuals that crafted the LCS 13, we congratulate the U.S. Navy and the outstanding crew of the USS Wichita.'

Click here to view social media video: https://vimeo.com/310985073
Click here to view speaker highlights: https://vimeo.com/310990036
Click here to view B-roll: https://vimeo.com/310990795
Click here to view photos: https://www.flickr.com/photos/143371902@N04/albums/72157702366638072

For more information, visit www.lockheedmartin.com/lcs.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 100,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

About Fincantieri Marinette Marine
Fincantieri is the leading western shipbuilder with a rich history dating back more than 230 years, and a track record of building more than 7,000 ships. Fincantieri Marine Group is the American subsidiary of Fincantieri, and operates three Great Lakes Shipyards: Fincantieri Marinette Marine, Fincantieri Bay Shipbuilding, and Fincantieri ACE Marine. Fincantieri Marine Group's more than 2,100 steelworkers, craftsman, engineers and technicians in the United Statesspecialize in the design, construction and maintenance of merchant ships and government vessels, including for the United States Navy and Coast Guard.

SOURCE Lockheed Martin

For further information: Kate Scruggs, +1-856-206-3170; katharine.n.scruggs@lmco.com

Disclaimer

Lockheed Martin Corporation published this content on 12 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 January 2019 20:33:06 UTC

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Financials ($)
Sales 2019 56 802 M
EBIT 2019 7 954 M
Net income 2019 5 550 M
Debt 2019 11 563 M
Yield 2019 3,03%
P/E ratio 2019 15,35
P/E ratio 2020 12,42
EV / Sales 2019 1,67x
EV / Sales 2020 1,57x
Capitalization 83 148 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 347 $
Spread / Average Target 18%
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NameTitle
Marillyn A. Hewson Chairman, President & Chief Executive Officer
Rodney A. Makoske SVP-Corporate Engineering, Technology & Operations
Bruce L. Tanner Chief Financial Officer & Executive Vice President
Nolan Don Archibald Lead Independent Director
Joseph W. Ralston Independent Director
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