General Dynamics reports steady earnings

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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.

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