Defense contractor Lockheed Martin (NYSE: LMT) posted strong earnings this morning for its first quarter of $1.75 per share, well ahead of the $1.63 analysts had been expecting.Looking at the quarter's revenue figures, we see a nice year-over-year jump, climbing to $9.98 billion from $9.28 billion. In addition, the company lifted its full-year earnings forecast by 10 cents to $7.15 to $7.35 per share.
The company had good earnings, and lifted full year estimates, so why is the stock falling in today's action? It could be in reaction to the fact that the company's biggest division, its jet business, showed a drop in sales in the period. During the quarter, this business fell since Lockheed is in the middle of a transition from its older fighter jets to newer models such as the F-35 and F-22.
Composite materials -- putting two building materials together to make them stronger than they would be on their own -- have been around for as long as mankind has been building structures. But we've come a long way since we first figured out that straw and mud together can make a brick, and modern composite materials, like carbon fiber, are becoming increasingly important in a number of technology markets, especially the aeronautics field. 
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