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GD Ekes Out Slight Earnings Gain Despite Dip In Sales

Defense Daily Staff Defense Daily Staff
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General Dynamics [GD] yesterday posted a small rise in first quarter earnings due to improved operating margins, lower interest expense and taxes despite a slight drop in sales as work for its military customers slowed. Net income rose a percent to $571 million, $1.62 earnings per share (EPS), from $564 million ($1.57 EPS) a year ago, beating consensus estimates by 12 cents EPS. Operating margins increased 10 basis points to 11.4 percent. Per share earnings were up over 3 percent…

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