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GD Reports Flat Income Despite Higher Sales To Open Year

Cal Biesecker By
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GD Reports Flat Income Despite Higher Sales To Open Year
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

General Dynamics [GD] on Wednesday reported flat income on higher sales in its first quarter as higher taxes wiped away bottom line gains at the operating level. Net income in the quarter was $730 million, $2.64 earnings per share (EPS), level with a year ago although per share results then were $2.61 with the year-over-year gain due to a lower share count. The results topped analysts’ expectations by a nickel. Operating income was higher at Combat Systems, down at Aerospace,…

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