General Dynamics reports steady earnings
- January 27, 2010
Defense contractor General Dynamics reported a slight increase in fourth-quarter sales and profit as demand for its defense products made for a decrease in its aerospace business unit.
Revenues of the Falls Church company remained steady at $7.9 billion for the quarter. Earnings were also steady for the quarter, rising to $614 million from $612 million during the same period last year.
Revenues for the full year rose 9.2 percent to $32 billion, compared with $29.3 billion the previous year. Annual profit fell 2.6 percent to $2.4 billion, or $6.17 per diluted share.
The company estimated that full-year earnings for the year would be between $6.40 to $6.50 per share.