General Dynamics / GD

About General Dynamics

2941 Fairview Park Dr., Suite 100, Falls Church, Va. 22042
www.generaldynamics.com | 703-876-3000 | Founded: 1952

Industry: Aerospace And Defense | Category: Public Companies

The wars in Iraq and Afghanistan have helped General Dynamics grow; so has demand for its Gulfstream jets. Revenue last year was $24 billion, up from $20 billion in 2005. That included the delivery of 113 business jets, which account for about 20 percent, or $4 billion, of the company's revenue.
General Dynamics closed three acquisitions last year, including a $2 billion deal for Anteon International of Fairfax and a deal to buy SNC Technologies, a munitions maker. SNC of Quebec attracted the attention of federal antitrust authorities, who raised concerns about whether the acquisition would lead to higher prices and less competition because General Dynamics was already in that market. The Federal Trade Commission ordered General Dynamics to divest its interest in one of two other competitors to buy SNC.
The company continued to be helped by the military's demand for refurbished tanks and munitions. The company received orders worth about $1.3 billion for its Stryker vehicles last year and $1 billion for upgrades and refurbishments to M1 Abrams tanks, including some returning from Iraq.
One of the company's largest programs, a new amphibious vehicle for the Marine Corps, ran into problems. The Marine Corps began considering how to salvage the Expeditionary Fighting Vehicle after the craft proved unreliable during testing, breaking down on average every 4 1/2 hours. The company has said it was confident that the program, which has risen in cost to $12 billion from $8 billion, would be successful.

Chairman and CEO: Nicholas D. Chabraja

2006 Financial Data

Revenues: $24,063,000,000 | Net Income: $1,856,000,000
Asssets: $22,376,000,000 | Earnings Per Share: $4.56
Stockholder Equity: $9,827,000,000 | Annual Dividend: $0.92
Total employees: 81,000 | Local employees: 7,400