General Dynamics Corp. (GD) Wednesday reported first-quarter net earnings of $708 million or $2.48 per share, up from $706 million or $2.43 per share in the prior-year quarter.
Revenue for the quarter grew 7.3 percent to $9.39 billion from $8.75 billion in the same quarter last year, with growth across all the four operating segments. Growth exceeded 10% in the Aerospace and Marine Systems segments.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.30 per share on revenues of $8.88 billion for the quarter. Analysts' estimates typically exclude special items.
Total backlog at the end of the first quarter was a record breaking $88.6 billion, 4.5 percent higher than the year-ago quarter.
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