Lockheed Corp.: The Calabasas-based spacecraft, aircraft, communications...

Lockheed Corp.: The Calabasas-based spacecraft, aircraft, communications and intelligence systems company reported second-quarter profit of $77 million, down 27% from a year ago. Sales totaled $2.4 billion, about the same as last year. The decline in results was attributed to completion of the C-5B transport program, $27 million in adjustments for three other aircraft programs and a higher effective tax rate.