NEW YORK (CNN/Money) - Lockheed Martin Corp. Tuesday reported first-quarter earnings that edged Wall Street estimates, and the largest U.S. defense contractor also reaffirmed its outlook for the full year 2002.

The Bethesda, Md.-based company said it earned $224 million excluding discontinued operations, or 50 cents a share, compared with $126 million, or 30 cents a share, a year ago. Wall Street analysts surveyed by earnings tracker First Call expected the company to earn 47 cents a share.

Revenue in the quarter jumped to $5.96 billion from $4.75 billion a year ago, a gain of 26 percent. Its aeronautics segment saw sales rise 56 percent, to $1.33 billion from $855 million a year ago, boosted in part by work on the F-35 Joint Strike Fighter program.

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The company also backed an earlier forecast for the full year, targeting earnings of $2.45 to $2.50 a share from continuing operations. Analysts surveyed by First Call expect the company to earn $2.51 a share.

Lockheed (LMT: Research, Estimates) shares fell 73 cents Monday to close at $59.12.  

-- from staff and wire reports