17 Apr 02. General Dynamics (NYSE: GD – news) today reported first quarter 2002 net earnings of $229m, or $1.13 per share on a fully diluted basis, on sales of $3.1bn; (2001: $212m, or $1.05 per share, on sales of $2.7bn, excluding a non-recurring gain of $28m, or 14 cents per share, from a tax-related adjustment). The quarter ended on March 31.
“This was a good first quarter, marked by especially strong performance by our Information Systems and Technology group. We expect solid results to continue throughout the year,” said Nicholas D. Chabraja, General Dynamics chairman and CEO.
“New orders of almost $3bn in the quarter—including a significant
contribution from our Aerospace group—kept the backlog strong. We ended the first quarter of 2002 with a funded backlog of $20.7bn, and a total backlog of $26.5bn,” Chabraja said.