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Defense Work Leads To Solid First Quarter At GD

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By Calvin Biesecker Shrugging off weakness in the business jet market, General Dynamics [GD] yesterday posted higher earnings and sales in the first quarter driven by its defense businesses. In March, citing worsening demand, GD reduced its planned production levels for business jets for the rest of this year, which led to the company lowering its earnings guidance for the year (Defense Daily, March 6). The good news is the new plan appears to be holding, Nicholas Chabraja, GD's chairman…

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