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GD Posts Lower Income, Sales In Third Quarter Due To COVID

By Cal Biesecker

Wednesday, October 28th, 2020

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GD Posts Lower Income, Sales In Third Quarter Due To COVID

An artist's rendering of the U.S. Navy's future Columbia-class submarine. (Image: U.S. Navy )

General Dynamics [GD] on Wednesday reported top and bottom-line declines in its third quarter, largely on continued weakness in its business aviation business stemming from the ongoing pandemic, which also hampered results elsewhere in the company. Overall, the company’s results were a mixed bag. In addition to the Aerospace segment, operating income and sales at GD’s Mission Systems segment declined and the Information Technology (IT) segment held profit steady despite a slight drop in sales. The company’s Marine and Combat…

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