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General Dynamics Q3 earnings edge higher as sales dip

Wednesday, 23 Oct 2013 | 7:24 AM ET

WASHINGTON, Oct 23 (Reuters) - General Dynamics Corp, maker of Gulfstream business jets and U.S. Navy warships, reported higher earnings and operating margins in the third quarter despite a dip in revenue.

The company said on Wednesday that net earnings rose 8.5 percent to $651 million from $600 million in the year earlier period, while revenues fell 1.7 percent to $7.93 billion. Earnings per share increased 8.2 percent to $1.84 from $1.70.

Revenues were largely in line with Wall Street estimates, but earnings beat expectations from analysts polled by Thomson Reuters I/B/E/S, who had forecast EPS of $1.68.

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