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Income, Sales Slip At GD As Government Work Slows In First Quarter

Defense Daily Staff Defense Daily Staff
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Despite a strong performance from its business jet operations and profit growth in its shipbuilding business, General Dynamics [GD] yesterday posted lower net income and sales in the first quarter as declines in defense and government work weighed on results. The overall performance is inline with the company’s outlook for the year as earnings expectations remain unchanged for 2012. Jay Johnson, GD’s chairman and CEO, had said in January on the company’s 2011 results call that the Aerospace would be…

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