RTTNews | Jul 29, 2020 08:07AM EDT

08:06 Wednesday, July 29, 2020 (RTTNews.com) - General Dynamics Corp. (GD) Wednesday reported second-quarter net earnings of $625 million, down 22.5 percent from $806 million last year. Earnings per share declined 21.3 percent to $2.18 from $2.77 last year.

Revenue for the quarter dropped 3 percent to $9.26 billion from prior year's $9.56 billion.

Analysts polled by Thomson Reuters expected earnings of $2.15 per share on revenues of $8.95 billion. Analysts' estimates typically exclude special items.

In the quarter, revenues from Aerospace fell 7.6 percent, Information Technology declined 12.7 percent and Mission Systems declined 7.5 percent. These were partly offset by 5.7 percent growth in Combat Systems revenues and 6.3 percent increase in Marine Systems revenues.

The company delivered 32 aircraft during the quarter, up from 23 last quarter, despite continued coronavirus pandemic-related challenges to making international deliveries.

Total backlog at the end of second-quarter 2020 was $82.7 billion, 22 percent higher than the year-ago quarter.

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