Helikopter - Er Sikorsky et råttent "material weakness" i LM kurven? AIN

Lockheed Warns of Possible Financial Reporting Issues At Sikorsky

Lockheed Martin this week warned that "a material weakness in internal control over financial reporting” at its Sikorsky helicopter unit could force it to restate its results in its annual K-10 filing with the Securities and Exchange Commission in February. Lockheed bought Sikorsky from United Technologies for $9 billion in November 2015. No errors had been uncovered so far. In its fourth quarter 2016 earnings call on January 24, Lockheed Martin said that Sikorsky had not been included in an earlier group-wide assessment of internal reporting controls due to normal accounting rules and procedures. CFO Bruce Tanner told analysts any remediation of the group balance sheet that might be required will likely be completed by the end of the year. As part of Lockheed Martin's Rotary and Mission Systems division, Sikorsky contributed to this unit's $13.5 billion net sales in 2016—representing a 48 percent increase on 2015 (given that the Sikorsky acquisition was only completed on November 6 that year). Sikorsky generated $4.6 billion of these net sales last year. In 2014, the last full year it was owned by United Technologies, it achieved net sales of $7.5 billion.