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GD Swings To Profit Amid Flat Sales In Fourth Quarter

Cal Biesecker By
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GD Swings To Profit Amid Flat Sales In Fourth Quarter
GD Chairman and CEO Phebe Novakovic. Photo: GD

General Dynamics [GD] on Wednesday said fourth quarter sales were level with a year ago and the company swung to a profit in 2013 versus 2012 when it was hit by nearly $3 billion in charges. Net income in the quarter was $495 million, $1.76 earnings per share (EPS), versus a $2.1 billion ($6.07 EPS) loss a year ago The fourth quarter results include a $129 million charge in discontinued operations related to a pending settlement of the 23-year-old A-12…

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