General Dynamics’ increases profit 3.5 percent
- April 27, 2011
Defense contractor General Dynamics increased its profit 3.5 percent in the first quarter, beating analysts’ estimates.
The Falls Church-based company said profit rose to $618 million, or $1.64 per diluted share, in the first quarter, compared with $597 million, or $1.53 per diluted share, in the first quarter of last year. Analysts had predicted an average of $1.61. Quarterly revenue rose 0.6 percent to $7.8 billion.
Operating profit rose in the company’s aerospace, combat systems and marine systems groups grew, but it declined in information systems.