Gulfstream Aerospace parent General Dynamics late last month reported a 25-percent increase in profits during the second quarter, thanks in large part to climbing sales of Gulfstream business jets. The company posted a second-quarter profit of $641 million, up from $513 million in the same period a year ago, on sales of $7.3 billion. At Savannah, Ga.-based Gulfstream, the aircraft sales backlog stood at $1.32 billion as of June 30, up more than 10 percent year-over-year. “Growth in the aerospace backlog is a reflection of continued demand for the entire existing product line and extremely strong demand for the new Gulfstream G650,” said General Dynamics chairman and CEO Nicholas Chabraja.
GD soaring on Gulfstream sales
- July 30, 2008, 5:18 AM