The Wall Street Journal-20080124-Earnings Digest -- Defense- General Dynamics Corp-

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Earnings Digest -- Defense: General Dynamics Corp.

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General Dynamics Corp. said that revenue gains outpaced cost increases in the fourth quarter, helping net income jump 42%. But the U.S. defense contractor projected 2008 earnings below analysts' expectations. The Fall Church, Va., maker of Abrams tanks and Stryker armored vehicles, two mainstays of U.S. ground forces in Iraq, said it is now forecasting that 2008 per-share earnings will land in the range of $5.55 to $5.65. The mean estimate by analysts surveyed by Thomson Financial had been $5.73. Combat systems earnings soared 67% as sales jumped 47% amid strong vehicle sales.