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GD Opens Year With Strong Sales, Flat Earnings

Cal Biesecker By
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GD Opens Year With Strong Sales, Flat Earnings
Artist rendering of the future Columbia-class nuclear-armed ballistic missile submarine (SSBN), which will replace the Ohio-class submarines. (Illustration: U.S. Navy)

General Dynamics [GD] on Wednesday reported strong sales growth to open its fiscal year with all four operating segments posting gains although net income remained relatively flat. Sales in the first quarter increased 7 percent to $9.4 billion from $8.7 billion a year ago, driven by double-digit increases in the Aerospace and Marine Systems segments, followed by Combat Systems and Technologies. Net income was $708 million, $2.48 earnings per share (EPS), essentially level versus $706 million ($2.43 EPS) a year…

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