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GD Posts Higher Income As Sales Fall In Fourth Quarter

Cal Biesecker By
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GD Posts Higher Income As Sales Fall In Fourth Quarter
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

General Dynamics [GD] on Wednesday posted higher fourth quarter earnings on higher operating margin and a lower tax rate, although sales fell on declines across its operating segments.Net income in the quarter jumped 9 percent to $764 million, $2.40 earnings per share (EPS), from $701 million ($2.09 EPS) a year ago, nipping consensus estimates by two pennies per share. Per share earnings also benefited from a lower share count as the company continues to buy back shares.Sales fell 7 percent…

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