General Dynamics reports 16 percent profit increase

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Falls Church defense contractor General Dynamics reported its third-quarter earnings increased 16 percent because of sales in its shipbuilding and information technology segments.

The company reported $634 million in earnings, compared with $546 million during the same timeframe last year.

Sales increased 4.5 percent to $7.1 billion. The biggest boost for sales came from a 12 percent increase in sales for its shipbuilding segment.

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