General Dynamics (GD) - Get Report reported better-than-expected second-quarter earnings Wednesday as the aerospace and defense company landed large contracts in its defense and technology divisions. 

Shares were up 1.1% to $188.05.

The Falls Church, Virginia-based company reported net earnings of $806 million, or $2.77 a share, up from $786 million, or $2.65 a share, a year ago. Revenue totaled $9.6 billion, up 4% from a year ago. Analysts were expecting the company to report earnings of $2.69 a share on revenue of $9.4 billion.

General Dynamics said its aerospace division booked $2.2 billion in orders in the quarter, a 1-to-1 book-to-bill on 12.7% year-over-year revenue growth.

The company said significant awards in defense portfolios in the quarter included $495 million from the U.S. Navy for industrial base development and expansion in support of the Columbia-class ballistic missile submarine program, $360 million in contracts to provide intelligence services to classified customers, $270 million from the Navy to support the joint U.S. and U.K. development of the submarine Common Missile Compartment and $260 million from the U.S. Army for production of munitions.

Technology posted a strong book-to-bill of 1.2-to-1, driven by a $1 billion U.S. Department of State contract to provide global engineering and supply chain services.

"Our second-quarter results reflect our relentless focus on driving down costs and improving performance," Phebe Novakovic, chairman and CEO, said in a statement.

Rival Northrop Grumman (NOC) - Get Report  on Wednesday posted stronger-than-expected second-quarter earnings and boosted its full-year profit guidance.