General Dynamics quarterly earnings rise
WASHINGTON, April 23
WASHINGTON, April 23 (Reuters) - General Dynamics, maker of Gulfstream jets, tanks and U.S. Navy ships, on Wednesday reported higher-than-expected quarterly earnings and revenue, and said its backlog rose 22 percent from the end of 2013.
The company reported a four percent increase in first quarter net earnings to $595 million, or $1.71 per share, from $571 million, or $1.62 per share in the same period one year ago.
Quarterly revenue fell one percent to $7.3 billion.
Analysts polled by Thomson Reuters I/B/E/S had forecast earnings per share of $1.64 and sales of $7.2 billion.
General Dynamics said its backlog at the end of the quarter was $56 billion, up from $46 billion at the end of last year.
The company did not provide any updated guidance for the full year.
(Reporting by Andrea Shalal, Editing by Franklin Paul)