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Northrop Grumman, General Dynamics' Margin Strength Lifts Results

7/23/14 1:30 PM EDT
U.S. defense contractors General Dynamics and Northrop Grumman reported better-than-expected quarterly results on Wednesday, boosted by improved margins. Excluding charges, General Dynamics reported earnings of $646 million, $1.88 a share, beating analyst expectations for earnings of $1.77 a share, according to Thomson Reuters. The company reported operating margins of 12.7%, a 40 basis-point improvement from the same quarter last year. Northrop Grumman reported net income of $511 million, or $2.37 a share, for the quarter, beating analyst expectations of $2.22. Operating margin improved by 80 points to 13.6% from last year. TheStreet's Brittany Umar reports from New York.
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