General Dynamics 2013 Q4 earnings to USD624m

23 January 2014

General Dynamics (NYSE: GD) reported 2013 fourth-quarter earnings from continuing operations of USD624m, or USD1.76 per share on a fully diluted basis; revenues for the quarter were USD8.1bn.

For the full year of 2013, earnings from continuing operations were USD2.5bn, or USD7.03 per share fully diluted, on revenues of USD31.2bn.

Net earnings for fourth-quarter 2013 were USD495m, or USD1.40 fully diluted, including a USD129m loss in discontinued operations related to the pending settlement of the long-standing A-12 litigation. Net earnings for the full year were USD2.4bn, or USD6.67 per share fully diluted.

“General Dynamics performed well in 2013, reflecting our continued focus on operations, cost management, cash generation and our commitment to meeting our customers´ requirements,” said Phebe N. Novakovic, chairman and chief executive officer. “As promised, we managed our company prudently, adjusting our business to reflect the realities of the current defense spending environment and retiring risk throughout the organization.”

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 96,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available at www.generaldynamics.com.

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