General Dynamics 3Q earnings rise, raises view

AP News
Posted: Oct 27, 2010 7:57 AM
General Dynamics 3Q earnings rise, raises view

General Dynamics says its third-quarter earnings rose 14 percent on strengthening sales for its business jets, military and commercial ships and technology support systems. The defense contractor also raised its forecast for the year.

The Falls Church, Va. company said Wednesday it earned $650 million, or $1.71 per share, compared with year-ago earnings of $572 million, or $1.48 per share.

Revenue rose 4 percent to $8 billion.

Thomson Reuters says analysts had expected a profit of $1.64 per share on revenue of $8.39 billion.

The company expects 2010 earnings from continuing operations, which leaves out some items, between $6.70 and $6.75 per share. It previously forecast $6.60 to $6.65 per share.