Lockheed Martin said it has reduced its contract backlog by about $1.6 billion as a result of the cancellation of the U.S. Air Force's Transformational Satellite (T-Sat) mobile broadband satellite program and will negotiate a final settlement for the contract termination in the coming months.rnIn a July 21 conference call and July 22 filing with the U.S. Securities and Exchange Commission (SEC), the Bethesda, Md.-based company said its T-Sat exposure is related to the T-Sat Mission Operations System, which is the ground support infrastructure for what would have been the T-Sat satellite constellation.
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