General Dynamics' Net Rises 25%

Defense contractor General Dynamics Corp. posted a 25% rise in third-quarter net income, citing robust government defense spending and booming sales of business jets. It also raised its full-year outlook.

General Dynamics, which makes Abrams tanks and Stryker troop carriers, two mainstays of U.S. ground forces in Iraq, reported net income of $546 million, or $1.34 a share, compared with $438 million, or $1.08 a share, a year earlier.

Net sales rose 13% to $6.83 billion from $6.07 billion. Analysts polled by Thomson Financial had expected the Falls Church, Va., company to post earnings of $1.25 a share on sales of $6.81 billion.

Read Full Article from Wall Street Journal

- Posted: 2007-10-24 10:09:51

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