Defense contractor General Dynamics ($GD@US) has posted a 3% increase in its 3rd quarter profits, seeing gains in its marine systems unit and aerospace division. The marine systems unit alone saw sales rise 9.6% to $2.64 billion on strong defense contracts. The firm builds nuclear submarines and surface vessels for the U.S. Navy, representing a longstanding relationship that was sure to help the firm push back against analyst estimates. Moreover, the aviation unit has seen a boom in the business travel sector as demand for its Gulfstream jets has increased. The firm delivered 31 Gulfstream business jets this year against 32 at this time last year. However, the business is noting strong ordering activity. The company also announced it has two new jets in the works—particularly the G800 which will compete with Bombardier’s ($BDRBF@Canada) Global 7500 and the Dassault 10X. Net earnings rose to $3.07 per share, nearly 10 cents higher than previous estimates. Additionally, revenue rose 1.5% to $9.57 billion, but missed analyst estimates which put revenue at $9.85 billion. After the news broke, General Dynamics stock fell over 1 and a half percent in early trading to just over $204 per share.
