Projo 7 to 7 News Blog

Journal Business staff

General Dynamics Corp., owner of Electric Boat at Quonset Point, this morning said fourth-quarter earnings jumped nearly 6 percent as higher profits in business jet and shipbuilding units outweighed an earnings drop in the company's division that makes armored vehicles and tanks for the military.

The defense contractor based in Falls Church, Virginia, said it earned $612 million, or $1.57 per share. It earned $579 million, or $1.42 per share, a year ago. Revenue rose 4.5 percent to $7.85 billion.

Without one-time charges connected to the sale of assets in Spain, it earned $630 million, or $1.62 per share.

Analysts polled by Thomson Reuters were expecting a profit of $1.59 per share.
General Dynamics expects to earn $6.70 to $6.75 per share this year. Analysts expect $6.71 per share.

For breaking Business news, see the Bizblog.

 Tags  Quonset Point

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