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General Dynamics Q3 earnings edge higher as sales dip
October 23, 2013 / 11:28 AM / 4 years ago

General Dynamics Q3 earnings edge higher as sales dip

WASHINGTON (Reuters) - General Dynamics Corp (GD.N), maker of Gulfstream business jets and U.S. Navy warships, reported higher earnings and operating margins in the third quarter despite a dip in revenue.

The company said on Wednesday that net earnings rose 8.5 percent to $651 million from $600 million in the year earlier period, while revenues fell 1.7 percent to $7.93 billion. Earnings per share increased 8.2 percent to $1.84 from $1.70.

Revenues were largely in line with Wall Street estimates, but earnings beat expectations from analysts polled by Thomson Reuters I/B/E/S, who had forecast EPS of $1.68.

Reporting by Andrea Shalal-Esa; Editing by Jeffrey Benkoe

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