RTTNews | Jul 28, 2021 10:23AM EDT

10:23 Wednesday, July 28, 2021 (RTTNews.com) - General Dynamics Corp. (GD) reported Wednesday reported that net earnings for the second quarter grew to $737 million or $2.61 per share from $625 million or $2.18 per share in the prior-year quarter.

Revenue for the quarter edged down 0.5 percent to $9.22 billion from $9.26 billion in the same quarter last year, with single digit growth in three operating segments, while aerospace segment revenue declined 17.8 percent. On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.54 per share on revenues of $9.30 billion for the quarter. Analysts' estimates typically exclude special items.

Total backlog at the end of the second quarter grew 8 percent to $89.2 billion from the year-ago quarter.

"The company performed impressively this quarter, delivering very strong cash flow, improved margins and significant Aerospace order activity," said Phebe N. Novakovic, chairman and chief executive officer.

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