Lockheed Corp. reported net 1994 earnings of...

Lockheed Corp. reported net 1994 earnings of $445 million, or $7 a share, a 5% increase over the $422 million, or $6.70 a share, it earned in 1993.

For the fourth quarter, the Calabasas-based aerospace company reported net earnings of $137 million, or $2.14 a share, compared to $135 million, or $2.13 a share, for the 1993 quarter.

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Included in the fourth-quarter results is a $25-million charge for a fine to settle federal allegations that the company conspired to bribe an Egyptian legislator in the sale of three C-130 Hercules planes.

Daniel M. Tellep, chairman and chief executive, said 1994 was another year of improvement for Lockheed. “We had solid profitability in our core defense and NASA programs,” he said. “In addition, our commercial electronics businesses showed dramatic improvement year-over-year.”

Shareholders of Lockheed and Martin Marietta Corp. are expected to vote in mid-March on whether to unite the two in what would be one of the biggest defense mergers ever.

Lockheed makes Stealth fighters, Trident II missiles and an array of other equipment.