General Dynamics’ Profit Rises 22%
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From Associated Press
A big increase in sales fueled by acquisitions led to a strong first quarter for defense conglomerate General Dynamics Corp. as earnings rose 22% to $269 million.
The earnings came to $1.34 a share, compared with $221 million, or $1.11 a share, a year earlier. Sales increased 39% to $4.76 billion. The sales gain resulted in part from the acquisition of GM Defense and Veridian last year.
General Dynamics shares rose 96 cents to $91.96 on the New York Stock Exchange.
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