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GD Posts Mixed Results As Earnings Dip While Sales Climb

Cal Biesecker By
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GD Posts Mixed Results As Earnings Dip While Sales Climb

General Dynamics [GD] on Wednesday posted higher first quarter sales due to gains in each of its business segments but net income fell on higher interest expenses and slightly higher taxes, which combined to more than offset a small rise in segment income. Net income dropped 7 percent to $745 million, $2.56 earnings per share (EPS), from $799 million ($2.65 EPS) a year ago, but still beat consensus estimates by 14 cents a share. Segment operating margin slid 350 basis…

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