General Dynamics (NYSE: GD) has reported fourth-quarter revenue of $11.7 billion, a 7.5 percent increase over the same period a year ago and disclosed quarterly net earnings of $1 billion and diluted earnings per share of $3.64.
An earnings statement published Wednesday states that General Dynamics’ aerospace segment obtained orders worth $3.2 billion during the quarter with a backlog of $20.5 billion, up 4.8 percent from prior-year figures.
“Our aerospace segment in particular saw solid execution and continued demand in the quarter and is well positioned for a surge in deliveries upon FAA certification of the G700,” remarked Phebe Novakovic, chairman and CEO of General Dynamics and a nine-time Wash100 awardee.
Jason Aiken, executive vice president and chief financial officer, said during the earnings conference call that the aerospace segment has a 1.2 to 1 book-to-bill ratio in the fourth quarter and full year.
General Dynamics had revenue of $42.3 billion for the entire year, up 7.3 percent from the prior year, and operating earnings of $4.25 billion, a 0.8 percent increase over the last year.
