BETHESDA, Md., Sept. 26, 2013 /PRNewswire/ -- Today, the Lockheed Martin Corporation (NYSE: LMT) board of directors increased the amount that the Corporation could use to repurchase shares under its share repurchase program by $3 billion.

Under the share repurchase program, the number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation. The program does not have an expiration date.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2012 were $47.2 billion.

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http://www.lockheedmartin.com

SOURCE Lockheed Martin Corporation