FALLS CHURCH, VA., (PRNEWSWIRE) — General Dynamics today released fourth quarter and year-end results, showing a rise in net income for both.
The company’s net earnings for the fourth quarter were $219 million, or $1.09 per diluted share — an 11 percent increase compared to $198 million, or $0.98 per share during the same period last year.
Net earnings for 2000 on a recurring basis were $811 million, or $4.03 per diluted share — an increase of 14 percent per share compared to $715 million, or $3.54 per share, last year.
General Dynamics reported a non-recurring research and experimentation tax credit of $90 million for the third quarter. Including this number, the company earned $901 million, or $4.48 per share, in 2000. Net income for 1999 including non-recurring items was $880 million, or $4.36 per share.
General Dynamics saw sales of $10.4 billion for 2000, compared to $9.0 billion in 1999. The company will broadcast its quarterly security analyst conference call at 11 a.m. today. For more information, visit www.generaldynamics.com.
