General Dynamics, more than doubled its earnings in the second quarter of the year compared with the same period last year.
Nicholas D Chabraja, parent group chairman and chief executive, attributed the results to cost cutting efforts and tightened control over pre-owned aircraft activity.
Information Systems and Technology and Combat Systems continued to provide strong revenue growth with healthy margins, and Marine Systems' year-over-year performance was significantly improved. Group revenues of $4.8 billion in the second quarter of the year compared with $3.9 billion over the same period last year.
Net earnings were $300 million, or $1.49 per share on a fully diluted basis, compared with 2003 second quarter net earnings of $242 million or $1.22 per share fully diluted. For Gulfstream, total aircraft deliveries, for the first six months of the year were 74, compared with 79 over the same period in 2003.
Source: Flight Daily News