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GD Reports Solid Quarter Despite Profit Slump; Increases Earnings Guidance

DDN

Thursday, July 30th, 2009

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By Calvin Biesecker General Dynamics [GD] yesterday posted solid second quarter financials that beat consensus estimates for earnings although net income fell compared to results a year ago, which were boosted by a one-time tax gain. Given performance so far this year and the expectation of continued healthy results in the second half of the year, GD raised its earnings guidance from continuing operations a nickel to between $6.05 and $6.15 earnings per share (EPS) for 2009. Sales guidance remains…

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