General Dynamics' Profit Rises 19 Percent on Strong Demand

Wednesday, 26 Jan 2011 08:15 AM

 

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Defense contractor General Dynamics says fourth-quarter earnings rose 19 percent and demand remains strong for its vehicles, ships and business jets.

General Dynamics says its aerospace business boosted its backlog with new orders, and significant U.S. and international orders came in for vehicles, ship design and other work.

The company said Wednesday it earned $729 million, or $1.91 per share. Revenue rose 9 percent to $8.60 billion.

Analysts expected $1.85 per share on revenue of $8.94 billion, according to FactSet.

The company expects 2011 earnings of $7 to $7.10 per share. Analysts were forecasting $7.11 for the year.

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