General Dynamics beats Street with higher profit
WASHINGTON, July 24 (Reuters) - General Dynamics Corp reported higher-than-expected second-quarter earnings on Wednesday but said its backlog was down more than 5 percent from a year earlier.
The maker of tanks, ships and Gulfstream jets reported net earnings of $640 million, or $1.81 per share, up from $634 million, or $1.77 per share, a year earlier.
Revenue was little changed at $7.91 billion.
Analysts polled by Thomson Reuters I/B/E/S had forecast earnings per share of $1.62 on revenue of $7.73 billion.
The company's backlog was $49.4 billion at the end of the quarter, down 5.6 percent from a year earlier.