General Dynamics Corp. (GD)

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GDIT Awarded $190 Million Cloud Contract by the United States Patent and Trademark Office

FALLS CHURCH, Va., Nov. 3, 2021 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today that it has been awarded a five-year, $190 million contract from the United States Patent and Trademark Office (USPTO) for enterprise cloud modernization.

General Dynamics Information Technology (GDIT) was awarded a contract from the United States Patent and Trademark Office (USPTO) for enterprise cloud modernization.

Under this contract, which was awarded in September, GDIT will deliver a scalable, hybrid multi-cloud platform to modernize USPTO's IT infrastructure. Leveraging strong relationships with leading commercial cloud service providers, including Amazon Web Services (AWS), Google and Microsoft, GDIT will accelerate the agency's cloud adoption and migration.

"GDIT is proud to support USPTO's critical digital modernization initiatives and accelerate their cloud adoption," said Jylinda Johnson, GDIT's vice president and general manager for Government Operations. "The delivery of these cloud services will directly support inventors, entrepreneurs and organizations by making it faster and easier to file trademark and patent applications."

GDIT's support of the enterprise cloud modernization effort will increase the speed to deploy new applications while reducing agency resources maintaining legacy data centers. The company will improve IT service delivery, innovate to meet future operational demands, and work with USPTO leadership to implement the agency's cloud strategy.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020. More information about General Dynamics Information Technology is available at http://www.gdit.com. More information about General Dynamics is available at http://www.gd.com.


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SOURCE General Dynamics Information Technology

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General Dynamics Land Systems, Epirus Sign Strategic Teaming Agreement to Enhance Next-Generation Ground Combat Vehicle Fleet

October 25 2021 - 10:00AM
The companies will collaborate to advance mobile SHORAD solutions and fill capability gaps to defend against drone swarms and other electronic threats

General Dynamics Land Systems, a global leader in providing innovative, high technology and next-generation ground combat solutions to customers, announces today a Strategic Teaming Agreement with Epirus, Inc., a high-growth technology company developing directed energy systems that enable unprecedented counter-electronics effects. GD and Epirus will collaborate to integrate the Leonidas directed energy system and broader high-power microwave technology into the U.S. Army’s Stryker and other manned and autonomous ground combat vehicles for enhanced mobile Short Range Air Defense (SHORAD) capabilities.

“General Dynamics Land Systems continues to evolve the Army’s largest and most reliable ground combat vehicle fleet with next-generation innovation and high-tech solutions,” said Danny Deep, President of General Dynamics Land Systems. “This partnership with Epirus benefits the Army’s Stryker mobile SHORAD formations by offering cutting-edge, counter-electronics and counter-swarm capabilities.”

In addition to Stryker upgrades, the company also is developing a class of robotic combat vehicles that feature modular architecture to maximize scalability and support future mission needs, Deep said.

Leonidas’ integration with Stryker enables a fully mobile counter-electronics solution and electronic attack solution and demonstrates the system’s flexible application programming interface (API) and ability to integrate with existing ground-based, airborne and maritime systems for operation across domains. The system’s open API allows for maximum interoperability to meet the mission needs of multiple customer sets. Leonidas delivers unprecedented power and performance in a dramatically smaller form factor and is the only directed energy weapon with a proven ability to counter swarming drones and execute precision strikes at range.

“Having the support of one of the largest, most innovative and technologically advanced defense contractors further deepens our industry credibility and the market appeal for Epirus’ directed energy product portfolio. With Leonidas integrated into GD’s combat vehicle fleet, we are unlocking new SHORAD and counter-electronics capabilities to equip our warfighters with combat effective systems that dismantle the threats of today and tomorrow. I look forward to continuing our partnership with our General Dynamics Land Systems colleagues and know that, together, we can deliver on our customers’ mission needs,” said Leigh Madden, Epirus Chief Executive Officer.

About Epirus:

Epirus delivers directed energy weapons that enable unprecedented counter-electronics capabilities. Epirus’ flagship product – Leonidas – provides a tactical form factor counter-UAS weapon capable of swarm defeat with increased standoff distances, speed-of-light engagements and the absence of issues with magazine depth and capacity. With a constant emphasis on innovation, Epirus is bringing tomorrow’s capabilities to life today to defeat asymmetric threats and deter near-peer adversaries.

About General Dynamics Land Systems:

Land Systems is a business unit of General Dynamics (NYSE: GD). Land Systems provides innovative design, engineering, technology, production, fielding and full life-cycle support for land combat vehicles around the globe. The company's extensive experience, customer-first focus and seasoned supply chain network provide unmatched capabilities to the U.S. military and its allies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211025005189/en/

Charles Zehren, [e-mail], [phone]
Ryan Carbain, [e-mail], [phone]

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North America Continues To Dominate The Autonomous BVLOS Drones Market
9:15 am ET September 21, 2021 (PR Newswire)

The autonomous BVLOS drones market is gaining traction, as the applications of these autonomous BVLOS drones are increasing, in tandem with the increasing need for enhancing efficiency and industrial productivity. Currently, the military segment has the largest market share in the autonomous BVLOS drones market. Autonomous drones are being used for various purposes in the military, like aerial warfare and ISR applications. The revenues have been higher from the military segment, as militaries mostly use large UAVs with higher unit prices. In addition to the existing models of autonomous BVLOS drones, new drones are also being produced. The use of autonomous BVLOS drones was mainly limited to the military in the past. However, presently, these drones are being vigorously adopted for commercial purposes, for aerial mapping, surveying, and inspection purposes over long distances. In addition, the increasing demand for last-mile drone delivery is boosting the autonomous BVLOS drones market in the civil and commercial sector, which is expected to propel the segment to register a higher CAGR during the forecast period. According to report from ResearchAndMarkets The autonomous BVLOS drones market is projected to register a CAGR of more than 15% through 2025. Active stocks in the markets this week include Plymouth Rock Technologies Inc. (OTCQB: PLRTF) (CSE: PRT), Ambarella, Inc. (NASDAQ: AMBA), Raytheon Technologies (NYSE: RTX), General Dynamics (NYSE: GD), L3Harris Technologies (NYSE: LHX).

The report also said that "North America will Continue to Dominate the Autonomous BVLOS Drones Market through 2025. In 2019, North America held the largest market share in the autonomous BVLOS drones market. The demand from the United States has been the prime reason for the large share of the market. In the United States, autonomous BVLOS drones are being used for many applications. While most of the demand is from the military, progress is being made toward integrating small drones into the airspace and obtaining the necessary regulatory approval of BVLOS flights from the FAA. In 2019, the FAA gave permissions to a handful of companies taking part in its Unmanned Aircraft Systems (UAS) IPP, or the Integrated Pilot Program, to make autonomous BVLOS flights using the onboard detect-and-avoid (DAA) systems... such developments are expected to further boost the market growth during the forecast period, thereby, helping the region witness the highest growth rate in the market (through 2025)."

Plymouth Rock Technologies Inc. (CSE: PRT.CNQ) (OTCQB: PLRTF) BREAKING NEWS: PLYMOUTH ROCK TECHNOLOGIES ANNOUNCES CONTRACT FOR UK AEROSPACE BVLOS TESTING - Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in developing detection apparatus and unmanned technologies, is pleased to announce the sale of custom drones and training services to Cranfield University in collaboration with the UK Civil Aviation Authority (CAA) National Beyond Visual Line of Sight Experimentation Corridor (NBEC).

The goal of the NBEC is to provide a safe, managed environment to test and develop concepts, principles, and the related technologies to enable flying unmanned aircraft systems beyond visual line of sight (BVLOS) in non-segregated airspace.

"From the outset, the differentiator of the PRT UAS operation was to create a product portfolio designed and engineered for autonomous and BVLOS flight as the primary function, while having a fully manual piloting capability as a secondary function" stated Ben Pickard, VP of UAS Development at PRT. "Our UAS platforms are currently being used in demanding BVLOS missions with critical value humanitarian and civilian missions which include the UN, Oil & Gas and Environmental agencies. We are honoured to be supplying products and services into this program and further to share any data from operational deployments that will assist not only the CAA in the UK, but also the FAA in the United States" concluded Pickard.

"Being chosen by Cranfield University to be the supplier of UAS and training services for this globally recognized program is a positive endorsement of the Company and its products," stated Carl Cagliarini, Chief Strategy Officer of PRT. "The requirement for Unmanned Traffic Management (UTM) capabilities to ensure flight safety systems, electronic redundancy and constant communication must be rigorously tested if drone technologies are ever to be deployed over urban environments for commercial operations. This program takes our proven technologies to a higher level by assessing UAS capabilities towards the goal of introducing drones into non-segregated airspace. This will require drones to sense, communicate and work with manned aircraft across general aviation and military operations" concluded Cagliarini. CONTINUED... Read this and more news for PRT at: https://www.plyrotech.com/news/

Other recent developments in the tech industry include:

Ambarella, Inc. (NASDAQ: AMBA), an AI vision silicon company, recently announced financial results for its second quarter of fiscal year 2022 ended July 31, 2021. Ambarella reports gross margin, net income (loss) and earnings (losses) per share in accordance with GAAP and, additionally, on a non-GAAP basis. Non-GAAP financial information excludes the impact of stock-based compensation adjusted for the associated tax impact, which includes the effect of any benefits or shortfalls recognized. A reconciliation of the GAAP to non-GAAP gross margin, net income (loss) and earnings (losses) per share for the periods presented, as well as a description of the items excluded from the non-GAAP calculations, is included in the financial statements portion of this press release.

Total cash, cash equivalents and marketable debt securities on hand at the end of the second quarter of fiscal 2022 was $449.2 million, compared with $435.5 million at the end of the prior quarter and $410.7 million at the end of the same quarter a year ago.

General Dynamics (NYSE: GD) recently reported second-quarter 2021 net earnings of $737 million on revenue of $9.2 billion. Diluted earnings per share (EPS) were $2.61. EPS grew 19.7% on a 17.9% increase in net earnings, as company-wide operating margin expanded to 10.4%, up 140 basis points from the year-ago quarter. Backlog of $89.2 billion was up 8% from the year-ago quarter.

"The company performed impressively this quarter, delivering very strong cash flow, improved margins and significant Aerospace order activity," said Phebe N. Novakovic, chairman and chief executive officer. "Emerging from the pandemic, we remain focused on operating discipline and wise deployment of capital." Net cash provided by operating activities in the quarter totaled $1.1 billion. Free cash flow from operations, defined as net cash provided by operating activities, less capital expenditures, was $943 million.

L3Harris Technologies (NYSE:LHX) has recently accomplished a key milestone in the development of a missile tracking satellite prototype for the Space Development Agency (SDA). The completed Preliminary Design Review (PDR) defines the spacecraft's design baseline for delivery to SDA and allows the program to move to the next stage of delivering ground-breaking new capabilities at speed. When completed, the satellites will provide the capability to detect and track ballistic and hypersonic missiles via overhead persistent infrared sensing from low earth orbit.

"We've worked closely with SDA to ensure our design taps proven technology that can scale to address the changing mission," said Ed Zoiss, President of L3Harris Space and Airborne Systems. "We understand the threat and are focused on delivery." L3Harris received the tracking layer prototype award in 2020 to develop and integrate an end-to-end satellite system under a $193 million firm fixed-price contract. Total period of performance runs through 2025 and covers four space vehicle launches.

Collins Aerospace, a Raytheon Technologies (NYSE:RTX), has recently signed a definitive agreement to acquire privately held FlightAware, a leading digital aviation company providing global flight tracking solutions, predictive technology, analytics and decision-making tools.

Closure of the acquisition is subject to the completion of customary conditions and regulatory approvals. Following closing, FlightAware will join Collins' Information Management Services portfolio within the company's Avionics strategic business unit. Financial terms of the agreement were not disclosed.

"Global connectivity now shapes and impacts every segment of aviation. FlightAware is the recognized leader in data collection, analytics and customer experience, which will help Collins unlock the full power of the connected ecosystem for our customers," said Dave Nieuwsma, Collins Aerospace's head of Avionics. "FlightAware's flight tracking and data platform, the largest in the world, has the potential to deliver new capabilities and innovations across our entire business."

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Plymouth Rock Technologies Inc. by a non affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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GENERAL DYNAMICS BOARD DECLARES DIVIDEND

RESTON, Va. , Aug. 4, 2021 /PRNewswire/ -- The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of $1.19 per share on the company's common stock, payable November 12, 2021, to shareholders of record on October 8, 2021.

Headquartered in Reston, Virginia , General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020. More information is available at http://www.gd.com .

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GENERAL DYNAMICS REPORTS SECOND-QUARTER 2021 FINANCIAL RESULTS

- Net earnings of $737 million, up 17.9% from year-ago quarter

- DILUTED EPS OF $2.61, UP 19.7% FROM YEAR-AGO QUARTER
- $1.1 BILLION IN CASH PROVIDED BY OPERATING ACTIVITIES
- VERY STRONG GULFSTREAM ORDER ACTIVITY

RESTON, Va. , July 28, 2021 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported second-quarter 2021 net earnings of $737 million on revenue of $9.2 billion . Diluted earnings per share (EPS) were $2.61 .

EPS grew 19.7% on a 17.9% increase in net earnings, as company-wide operating margin expanded to 10.4%, up 140 basis points from the year-ago quarter. Backlog of $89.2 billion was up 8% from the year-ago quarter.

"The company performed impressively this quarter, delivering very strong cash flow, improved margins and significant Aerospace order activity," said Phebe N. Novakovic , chairman and chief executive officer. "Emerging from the pandemic, we remain focused on operating discipline and wise deployment of capital."

Cash
Net cash provided by operating activities in the quarter totaled $1.1 billion . Free cash flow from operations, defined as net cash provided by operating activities, less capital expenditures, was $943 million .

Backlog
Backlog at the end of second-quarter 2021 was $89.2 billion . Estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $41.1 billion . Total estimated contract value, the sum of all backlog components, was $130.3 billion at the end of the quarter.

Overall demand remained strong in the quarter, with a consolidated book-to-bill ratio of 1-to-1.

Significant awards in the quarter included $135 million from the U.S. Navy to provide ongoing lead yard services for the Virginia-class submarine program and options totaling $1.6 billion of additional potential value; $620 million from the U.S. Army to upgrade Stryker vehicles to the double-V-hull A1 configuration; $435 million from the Army to produce Stryker Initial Maneuver Short-Range Air Defense (IM-SHORAD) vehicles; $240 million from the Centers for Medicare and Medicaid Services (CMS) for several contracts, including work to provide cloud services and software tools; $145 million from the Army for the production of Hydra-70 rockets; and $865 million for several key contracts for classified customers.

About General Dynamics
Headquartered in Reston, Virginia , General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020. More information is available at http://www.gd.com .

Certain statements made in this press release, including any statements as to future results of operations and financial projections, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the company's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. All forward-looking statements speak only as of the date they were made. The company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

WEBCAST INFORMATION: General Dynamics will webcast its second-quarter 2021 financial results conference call at 9 a.m. EDT on Wednesday, July 28, 2021 . The webcast will be a listen-only audio event available at www.gd.com . An on-demand replay of the webcast will be available one hour after the end of the call and end on August 4, 2021 . To hear a recording of the conference call by telephone, please call 877-344-7529 (international: 412-317-0088); passcode 10157891. Charts furnished to investors and securities analysts in connection with General Dynamics' announcement of its financial results are available at www.gd.com .

EXHIBIT A

CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS


Three Months Ended
Variance

July 4, 2021
June 28, 2020
$
%
Revenue
$
9,220

$
9,264

$
(44)

(0.5)
%
Operating costs and expenses
(8,261)

(8,430)

169


Operating earnings
959

834

125

15.0
%
Other, net
31

25

6


Interest, net
(109)

(132)

23


Earnings before income tax
881

727

154

21.2
%
Provision for income tax, net
(144)

(102)

(42)


Net earnings
$
737

$
625

$
112

17.9
%
Earnings per share—basic
$
2.63

$
2.18

$
0.45

20.6
%
Basic weighted average shares outstanding
280.7

286.4




Earnings per share—diluted
$
2.61

$
2.18

$
0.43

19.7
%
Diluted weighted average shares outstanding
282.2

286.9




EXHIBIT B

CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS


Six Months Ended
Variance

July 4, 2021
June 28, 2020
$
%
Revenue
$
18,609

$
18,013

$
596

3.3
%
Operating costs and expenses
(16,712)

(16,245)

(467)


Operating earnings
1,897

1,768

129

7.3
%
Other, net
61

46

15


Interest, net
(232)

(239)

7


Earnings before income tax
1,726

1,575

151

9.6
%
Provision for income tax, net
(281)

(244)

(37)


Net earnings
$
1,445

$
1,331

$
114

8.6
%
Earnings per share—basic
$
5.12

$
4.63

$
0.49

10.6
%
Basic weighted average shares outstanding
282.4

287.5




Earnings per share—diluted
$
5.10

$
4.61

$
0.49

10.6
%
Diluted weighted average shares outstanding
283.6

288.5


EXHIBIT C

REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS


Three Months Ended
Variance

July 4, 2021
June 28, 2020
$
%
Revenue:






Aerospace
$
1,622

$
1,974

$
(352)

(17.8)
%
Marine Systems
2,536

2,471

65

2.6
%
Combat Systems
1,899

1,754

145

8.3
%
Technologies
3,163

3,065

98

3.2
%
Total
$
9,220

$
9,264

$
(44)

(0.5)
%
Operating earnings:






Aerospace
$
195

$
159

$
36

22.6
%
Marine Systems
210

200

10

5.0
%
Combat Systems
266

239

27

11.3
%
Technologies
308

247

61

24.7
%
Corporate
(20)

(11)

(9)

(81.8)
%
Total
$
959

$
834

$
125

15.0
%
Operating margin:






Aerospace
12.0
%
8.1
%



Marine Systems
8.3
%
8.1
%



Combat Systems
14.0
%
13.6
%



Technologies
9.7
%
8.1
%



Total
10.4
%
9.0
%



EXHIBIT D

REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS


Six Months Ended
Variance

July 4, 2021
June 28, 2020
$
%
Revenue:






Aerospace
$
3,509

$
3,665

$
(156)

(4.3)
%
Marine Systems
5,019

4,717

302

6.4
%
Combat Systems
3,719

3,462

257

7.4
%
Technologies
6,362

6,169

193

3.1
%
Total
$
18,609

$
18,013

$
596

3.3
%
Operating earnings:






Aerospace
$
415

$
399

$
16

4.0
%
Marine Systems
410

384

26

6.8
%
Combat Systems
510

462

48

10.4
%
Technologies
614

545

69

12.7
%
Corporate
(52)

(22)

(30)

(136.4)
%
Total
$
1,897

$
1,768

$
129

7.3
%
Operating margin:






Aerospace
11.8
%
10.9
%



Marine Systems
8.2
%
8.1
%



Combat Systems
13.7
%
13.3
%



Technologies
9.7
%
8.8
%



Total
10.2
%
9.8
%



EXHIBIT E

CONSOLIDATED BALANCE SHEET
DOLLARS IN MILLIONS


(Unaudited)


July 4, 2021
December 31, 2020
ASSETS


Current assets:


Cash and equivalents
$
2,950

$
2,824
Accounts receivable
3,255

3,161
Unbilled receivables
7,923

8,024
Inventories
5,803

5,745
Other current assets
1,649

1,789
Total current assets
21,580

21,543
Noncurrent assets:


Property, plant and equipment, net
5,135

5,100
Intangible assets, net
2,003

2,117
Goodwill
20,021

20,053
Other assets
2,444

2,495
Total noncurrent assets
29,603

29,765
Total assets
$
51,183

$
51,308
LIABILITIES AND SHAREHOLDERS' EQUITY


Current liabilities:


Short-term debt and current portion of long-term debt
$
2,821

$
3,003
Accounts payable
2,595

2,952
Customer advances and deposits
5,956

6,276
Other current liabilities
3,609

3,733
Total current liabilities
14,981

15,964
Noncurrent liabilities:


Long-term debt
11,485

9,995
Other liabilities
9,396

9,688
Total noncurrent liabilities
20,881

19,683
Shareholders' equity:


Common stock
482

482
Surplus
3,194

3,124
Retained earnings
34,273

33,498
Treasury stock
(19,181)

(17,893)
Accumulated other comprehensive loss
(3,447)

(3,550)
Total shareholders' equity
15,321

15,661
Total liabilities and shareholders' equity
$
51,183

$
51,308
EXHIBIT F

CONSOLIDATED STATEMENT OF CASH FLOWS - (UNAUDITED)
DOLLARS IN MILLIONS


Six Months Ended

July 4, 2021
June 28, 2020
Cash flows from operating activities—continuing operations:


Net earnings
$
1,445

$
1,331
Adjustments to reconcile net earnings to net cash from operating activities:


Depreciation of property, plant and equipment
280

254
Amortization of intangible and finance lease right-of-use assets
159

177
Equity-based compensation expense
72

61
Deferred income tax benefit
(37)

(83)
(Increase) decrease in assets, net of effects of business acquisitions:


Accounts receivable
(94)

(1)
Unbilled receivables
134

160
Inventories
(58)

(433)
Increase (decrease) in liabilities, net of effects of business acquisitions:


Accounts payable
(364)

(782)
Customer advances and deposits
(226)

(863)
Other, net
(193)

356
Net cash provided by operating activities
1,118

177
Cash flows from investing activities:


Capital expenditures
(306)

(406)
Other, net
(2)

184
Net cash used by investing activities
(308)

(222)
Cash flows from financing activities:


Repayment of fixed-rate notes
(2,000)

(2,000)
Proceeds from commercial paper, gross (maturities greater than 3 months)
1,997

420
Proceeds from fixed-rate notes
1,497

3,960
Purchases of common stock
(1,352)

(501)
Dividends paid
(651)

(610)
Repayment of floating-rate notes
(500)

(500)
Proceeds from commercial paper, net
—

816
Other, net
338

(118)
Net cash (used) provided by financing activities
(671)

1,467
Net cash used by discontinued operations
(13)

(24)
Net increase in cash and equivalents
126

1,398
Cash and equivalents at beginning of period
2,824

902
Cash and equivalents at end of period
$
2,950

$
2,300
EXHIBIT G

ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS

Other Financial Information:







July 4, 2021
December 31, 2020



Debt-to-equity (a)
93.4
%
83.0
%



Debt-to-capital (b)
48.3
%
45.4
%



Book value per share (c)
$
54.81

$
54.67




Shares outstanding
279,541,414

286,477,836













Second Quarter
Six Months

2021
2020
2021
2020
Income tax payments, net
$
212

$
13

$
245

$
56
Company-sponsored research and development (d)
$
93

$
116

$
183

$
194
Return on sales (e)
8.0
%
6.7
%
7.8
%
7.4
%








Non-GAAP Financial Measures:







Second Quarter
Six Months

2021
2020
2021
2020
Earnings before interest, taxes, depreciation and amortization:






Net earnings
$
737

$
625

$
1,445

$
1,331
Interest, net
109

132

232

239
Provision for income tax, net
144

102

281

244
Depreciation of property, plant and equipment
144

132

280

254
Amortization of intangible and finance lease right-of-use assets
80

87

159

177
Earnings before interest, taxes, depreciation and amortization (f)
$
1,214

$
1,078

$
2,397

$
2,245








Free cash flow from operations:






Net cash provided by operating activities
$
1,115

$
843

$
1,118

$
177
Capital expenditures
(172)

(221)

(306)

(406)
Free cash flow from operations (g)
$
943

$
622

$
812

$
(229)


(a)
Debt-to-equity ratio is calculated as total debt divided by total equity as of the end of the period.


(b)
Debt-to-capital ratio is calculated as total debt divided by the sum of total debt plus total equity as of the end of the period.


(c)
Book value per share is calculated as total equity divided by total outstanding shares as of the end of the period.


(d)
Includes independent research and development and Aerospace product-development costs.


(e)
Return on sales is calculated as net earnings divided by revenue.


(f)
We believe earnings before interest, taxes, depreciation and amortization (EBITDA) is a useful measure for investors because it provides another measure of our profitability and our ability to service our debt. We calculate EBITDA by adding back interest, taxes, depreciation and amortization to net earnings. The most directly comparable GAAP measure to EBITDA is net earnings.


(g)
We believe free cash flow from operations is a useful measure for investors because it portrays our ability to generate cash from our businesses for purposes such as repaying maturing debt, funding business acquisitions, repurchasing our common stock and paying dividends. We use free cash flow from operations to assess the quality of our earnings and as a key performance measure in evaluating management. The most directly comparable GAAP measure to free cash flow from operations is net cash provided by operating activities.
EXHIBIT H

BACKLOG - (UNAUDITED)
DOLLARS IN MILLIONS



Funded
Unfunded
Total
Backlog
Estimated
Potential
Contract Value*
Total
Estimated
Contract Value
Second Quarter 2021:









Aerospace
$
13,155

$
366

$
13,521

$
2,099

$
15,620
Marine Systems
26,435

21,095

47,530

4,689

52,219
Combat Systems
14,157

271

14,428

7,711

22,139
Technologies
9,769

3,999

13,768

26,594

40,362
Total
$
63,516

$
25,731

$
89,247

$
41,093

$
130,340
First Quarter 2021:









Aerospace
$
11,545

$
384

$
11,929

$
2,312

$
14,241
Marine Systems
27,676

22,075

49,751

2,815

52,566
Combat Systems
14,085

143

14,228

9,120

23,348
Technologies
10,003

3,670

13,673

27,530

41,203
Total
$
63,309

$
26,272

$
89,581

$
41,777

$
131,358
Second Quarter 2020:









Aerospace
$
11,874

$
239

$
12,113

$
2,834

$
14,947
Marine Systems
25,118

17,365

42,483

14,441

56,924
Combat Systems
13,863

242

14,105

6,399

20,504
Technologies
10,320

3,648

13,968

25,902

39,870
Total
$
61,175

$
21,494

$
82,669

$
49,576

$
132,245

*
The estimated potential contract value includes work awarded on unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options associated with existing firm contracts, including options and other agreements with existing customers to purchase new aircraft and aircraft services. We recognize options in backlog when the customer exercises the option and establishes a firm order. For IDIQ contracts, we evaluate the amount of funding we expect to receive and include this amount in our estimated potential contract value. The actual amount of funding received in the future may be higher or lower than our estimate of potential contract value.
EXHIBIT H-1

BACKLOG - (UNAUDITED)
DOLLARS IN MILLIONS


https://mma.prnewswire.com/media/1582760/EXHIBIT_H_1_Backlog.jpg

EXHIBIT H-2

BACKLOG BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS


https://mma.prnewswire.com/media/1582346/EXHIBIT_H_2_Aerospace_Backlog.jpg



https://mma.prnewswire.com/media/1582347/EXHIBIT_H_2_Marine_Backlog.jpg



https://mma.prnewswire.com/media/1582348/EXHIBIT_H_2_Combat_Backlog.jpg



https://mma.prnewswire.com/media/1582349/EXHIBIT_H_2_Technologies_Backlog.jpg



https://mma.prnewswire.com/media/1582472/EXHIBIT_H_2_Segment_Key.jpg

EXHIBIT I

SECOND QUARTER 2021 SIGNIFICANT ORDERS - (UNAUDITED)
DOLLARS IN MILLIONS

We received the following significant contract awards during the second quarter of 2021:

Marine Systems:

$135 from the U.S. Navy to provide ongoing lead yard services for the Virginia-class submarine program and options totaling $1.6 billion of additional potential value.
$100 from the Navy for maintenance and modernization work on the USS Pinckney, an Arleigh Burke -class (DDG-51) guided-missile destroyer.
$65 from the Navy for maintenance and modernization work on the USS Hartford, a Los Angeles-class submarine.
$55 from the Navy to provide ongoing lead yard services for the DDG-51 program.
Combat Systems:

$620 from the U.S. Army to upgrade Stryker vehicles to the double-V-hull A1 configuration.
$435 from the Army to produce Stryker Initial Maneuver Short-Range Air Defense (IM-SHORAD) vehicles.
$145 from the Army for the production of Hydra-70 rockets.
$100 for various munitions and ordnance.
$45 to produce mission control units for Abrams main battle tanks.
Technologies:

$865 for several key contracts for classified customers.
$160 to provide ship modernization services for the Navy. The contract has a maximum potential value of $730 .
$240 from the Centers for Medicare and Medicaid Services (CMS) for several contracts, including work to provide cloud services and software tools.
$115 to provide enterprise information technology (IT) and cybersecurity services and solutions for the Department of Defense (DoD).
$40 to provide IT support services and system engineering for the U.S. Department of Energy (DOE). The contract has a maximum potential value of $90 .
$80 to provide military information support operations for the DoD.
$80 from the Environmental Protection Agency (EPA) to provide infrastructure support and applications hosting services.
$80 from the Army for computing and communications equipment under the Common Hardware Systems-5 (CHS-5) program.
$65 to provide training support for the Navy.
$40 from the Navy to retrofit five Knifefish surface mine countermeasure systems with improved operational capabilities.
$40 from the Army to provide continued software support and engineering for the Warfighter Information Network-Tactical (WIN-T) Increment 2 program.
EXHIBIT J

AEROSPACE SUPPLEMENTAL DATA - (UNAUDITED)



Second Quarter
Six Months


2021
2020
2021
2020
Gulfstream Aircraft Deliveries (units):







Large-cabin aircraft
18

26

43

46
Mid-cabin aircraft
3

6

6

9
Total
21

32

49

55









Aerospace Book-to-Bill:







Orders*
$
3,292

$
1,072

$
5,749

$
2,928
Revenue
1,622

1,974

3,509

3,665
Book-to-Bill Ratio
2.03x

0.54x

1.64x

0.80x

* Does not include customer defaults, liquidated damages, cancellations, foreign exchange fluctuations and other backlog
adjustments.
General Dynamics (PRNewsFoto/General Dynamics) (PRNewsFoto/General Dynamics)

CisionView original content to download multimedia: https://www.prnewswire.com/news-releases/general-dynamics-reports-second-quarter-2021-financial-results-301342710.html

SOURCE General Dynamics

[ProfitScout]

GENERAL DYNAMICS TO WEBCAST 2021 SECOND-QUARTER FINANCIAL RESULTS CONFERENCE CALL

RESTON, Va. , July 9, 2021 /PRNewswire/ -- General Dynamics (NYSE: GD) will webcast its second-quarter 2021 financial results conference call on Wednesday, July 28, 2021 , beginning at 9 a.m. EDT.

The live webcast of the conference call will be available at http://www.gd.com. A replay will be available shortly after the live presentation.

More information about General Dynamics is available at http://www.gd.com.

[ProfitScout]

General Dynamics Board Declares Dividend, Authorizes Additional Share Repurchases

RESTON, Va., June 2, 2021 /PRNewswire/ -- The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of $1.19 per share on the company's common stock, payable August 6, 2021, to shareholders of record on July 2, 2021.

The board also provided management with the authority to repurchase an additional 10 million shares of the company's issued and outstanding common stock on the open market.

Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020. More information is available at http://www.gd.com.


Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/general-dynamics-board-declares-dividend-authorizes-additional-share-repurchases-301304373.html

SOURCE General Dynamics


Copyright 2021 PR Newswire

[ProfitScout]

GENERAL DYNAMICS REPORTS FIRST-QUARTER 2021 FINANCIAL RESULTS

- Revenue of $9.4 billion, up 7.3% from year-ago quarter; growth in all four segments

- NET EARNINGS OF $708 MILLION, DILUTED EPS OF $2.48
- RECORD-HIGH BACKLOG OF $89.6 BILLION, UP 4.5% FROM YEAR-AGO QUARTER

RESTON, Va. , April 28, 2021 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported first-quarter 2021 net earnings of $708 million on revenue of $9.4 billion . Diluted earnings per share (EPS) were $2.48 .

Revenue grew year-over-year by 7.3% company-wide, with growth in all four segments and growth exceeding 10% in the Aerospace and Marine Systems segments. Company-wide operating margin for the quarter was 10%. Orders remained strong, with backlog up 4.5% from the year-ago quarter to a record $89.6 billion .

"Continued recovery from the pandemic coupled with our focus on operating performance yielded a strong quarter, with year-over-year earnings growth driven by increased revenue across all of our four business segments," said Phebe N. Novakovic , chairman and chief executive officer. "Our improved cash outlook enabled us to continue investing in future growth while returning capital to shareholders."

Cash
Net cash provided by operating activities in the quarter totaled $3 million , compared with a use of cash of $666 million in the year-ago quarter. Free cash flow from operations, defined as net cash provided by operating activities less capital expenditures, was a net outflow of $131 million . During the quarter, the company invested $134 million in capital expenditures, paid $315 million in dividends, and repurchased $744 million in shares at an average price of $161.38 per share, ending the quarter with $1.8 billion in cash and equivalents on hand.

Backlog
Total backlog at the end of first-quarter 2021 was $89.6 billion , up 4.5% from the year-ago quarter. Estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $41.8 billion . Total estimated contract value, the sum of all backlog components, was $131.4 billion at the end of the quarter.

Order activity was strong across the company, with a total book-to-bill ratio (orders divided by revenue) of 1-to-1 for the quarter. Orders rose faster than revenue in the Aerospace and Technologies segments, with book-to-bill ratios for the quarter of 1.3-to-1 and 1.1-to1, respectively.

Significant awards in the quarter included a contract with a maximum potential value of $12.6 billion among multiple awardees to provide information technology (IT) and technical support services to intelligence agencies under the Solutions for the Information Technology Enterprise (SITE) III program; $1.9 billion from the U.S. Navy for the construction of a 10th Block V Virginia-class submarine; a contract with a maximum potential value of $805 million among multiple awardees to provide ship modernization services to the Navy; $295 million from the U.S. Army for various munitions and ordnance; $225 million from the Army for inventory management and support services for its Stryker vehicle fleet; $200 million from the Federal Emergency Management Agency (FEMA) to provide Coronavirus (COVID-19)-related contact-center operations and support services; $190 million in contracts from the Army for technical support and upgrades for Abrams main battle tanks; and $175 million from the Army for computing and communications equipment under the Common Hardware Systems-5 (CHS-5) program.

About General Dynamics
Headquartered in Reston, Virginia , General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020. More information is available at http://www.gd.com .

Certain statements made in this press release, including any statements as to future results of operations and financial projections, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the company's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. All forward-looking statements speak only as of the date they were made. The company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

WEBCAST INFORMATION: General Dynamics will webcast its first-quarter 2021 financial results conference call at 9 a.m. EDT on Wednesday, April 28, 2021 . The webcast will be a listen-only audio event available at www.gd.com . An on-demand replay of the webcast will be available one hour after the end of the call and end on May 5, 2021 . To hear a recording of the conference call by telephone, please call 877-344-7529 (international: 412-317-0088); passcode 10153889. Charts furnished to investors and securities analysts in connection with General Dynamics ' announcement of its financial results are available at http://www.gd.com .


EXHIBIT A
CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS


Three Months Ended
Variance

April 4, 2021
March 29, 2020
$
%
Revenue
$
9,389

$
8,749

$
640

7.3
%
Operating costs and expenses
(8,451)

(7,815)

(636)


Operating earnings
938

934

4

0.4
%
Other, net
30

21

9


Interest, net
(123)

(107)

(16)


Earnings before income tax
845

848

(3)

(0.4)
%
Provision for income tax, net
(137)

(142)

5


Net earnings
$
708

$
706

$
2

0.3
%
Earnings per share—basic
$
2.49

$
2.45

$
0.04

1.6
%
Basic weighted average shares outstanding
284.1

288.6




Earnings per share—diluted
$
2.48

$
2.43

$
0.05

2.1
%
Diluted weighted average shares outstanding
285.2

289.9




EXHIBIT B
REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS


Three Months Ended
Variance

April 4, 2021
March 29, 2020
$
%
Revenue:






Aerospace
$
1,887

$
1,691

$
196

11.6
%
Marine Systems
2,483

2,246

237

10.6
%
Combat Systems
1,820

1,708

112

6.6
%
Technologies
3,199

3,104

95

3.1
%
Total
$
9,389

$
8,749

$
640

7.3
%
Operating earnings:






Aerospace
$
220

$
240

$
(20)

(8.3)
%
Marine Systems
200

184

16

8.7
%
Combat Systems
244

223

21

9.4
%
Technologies
306

298

8

2.7
%
Corporate
(32)

(11)

(21)

(190.9)
%
Total
$
938

$
934

$
4

0.4
%
Operating margin:






Aerospace
11.7
%
14.2
%



Marine Systems
8.1
%
8.2
%



Combat Systems
13.4
%
13.1
%



Technologies
9.6
%
9.6
%



Total
10.0
%
10.7
%



EXHIBIT C
CONSOLIDATED BALANCE SHEET
DOLLARS IN MILLIONS


(Unaudited)


April 4, 2021
December 31, 2020
ASSETS


Current assets:


Cash and equivalents
$
1,811

$
2,824
Accounts receivable
3,191

3,161
Unbilled receivables
7,987

8,024
Inventories
5,688

5,745
Other current assets
1,731

1,789
Total current assets
20,408

21,543
Noncurrent assets:


Property, plant and equipment, net
5,090

5,100
Intangible assets, net
2,043

2,117
Goodwill
19,972

20,053
Other assets
2,450

2,495
Total noncurrent assets
29,555

29,765
Total assets
$
49,963

$
51,308
LIABILITIES AND SHAREHOLDERS' EQUITY


Current liabilities:


Short-term debt and current portion of long-term debt
$
3,186

$
3,003
Accounts payable
2,736

2,952
Customer advances and deposits
5,694

6,276
Other current liabilities
3,537

3,733
Total current liabilities
15,153

15,964
Noncurrent liabilities:


Long-term debt
9,995

9,995
Other liabilities
9,475

9,688
Total noncurrent liabilities
19,470

19,683
Shareholders' equity:


Common stock
482

482
Surplus
3,152

3,124
Retained earnings
33,869

33,498
Treasury stock
(18,585)

(17,893)
Accumulated other comprehensive loss
(3,578)

(3,550)
Total shareholders' equity
15,340

15,661
Total liabilities and shareholders' equity
$
49,963

$
51,308
EXHIBIT D
CONSOLIDATED STATEMENT OF CASH FLOWS - (UNAUDITED)
DOLLARS IN MILLIONS


Three Months Ended

April 4, 2021
March 29, 2020
Cash flows from operating activities—continuing operations:


Net earnings
$
708

$
706
Adjustments to reconcile net earnings to net cash from operating activities:


Depreciation of property, plant and equipment
136

122
Amortization of intangible and finance lease right-of-use assets
79

90
Equity-based compensation expense
40

30
Deferred income tax benefit
(19)

(28)
(Increase) decrease in assets, net of effects of business acquisitions:


Accounts receivable
(30)

(33)
Unbilled receivables
52

(78)
Inventories
57

(546)
Increase (decrease) in liabilities, net of effects of business acquisitions:


Accounts payable
(216)

(375)
Customer advances and deposits
(544)

(373)
Other, net
(260)

(181)
Net cash provided (used) by operating activities
3

(666)
Cash flows from investing activities:


Capital expenditures
(134)

(185)
Other, net
3

8
Net cash used by investing activities
(131)

(177)
Cash flows from financing activities:


Purchases of common stock
(759)

(449)
Dividends paid
(315)

(295)
Proceeds from fixed-rate notes
—

3,960
Proceeds from commercial paper, net
—

2,271
Other, net
201

(202)
Net cash (used) provided by financing activities
(873)

5,285
Net cash used by discontinued operations
(12)

(14)
Net (decrease) increase in cash and equivalents
(1,013)

4,428
Cash and equivalents at beginning of period
2,824

902
Cash and equivalents at end of period
$
1,811

$
5,330
EXHIBIT E
ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS

Other Financial Information:











April 4, 2021
December 31, 2020
Debt-to-equity (a)



85.9
%
83.0
%
Debt-to-capital (b)



46.2
%
45.4
%
Book value per share (c)



$
54.28

$
54.67
Shares outstanding



282,597,786

286,477,836











First Quarter





2021
2020
Income tax payments, net



$
33

$
43
Company-sponsored research and development (d)
$
90

$
78
Return on sales (e)



7.5
%
8.1
%








Non-GAAP Financial Measures:











First Quarter





2021
2020
Earnings before interest, taxes, depreciation and amortization:



Net earnings



$
708

$
706
Interest, net



123

107
Provision for income tax, net
137

142
Depreciation of property, plant and equipment
136

122
Amortization of intangible and finance lease right-of-use assets
79

90
Earnings before interest, taxes, depreciation and amortization (f)
$
1,183

$
1,167








Free cash flow from operations:






Net cash provided (used) by operating activities
$
3

$
(666)
Capital expenditures



(134)

(185)
Free cash flow from operations (g)



$
(131)

$
(851)


(a)
Debt-to-equity ratio is calculated as total debt divided by total equity as of the end of the period.


(b)
Debt-to-capital ratio is calculated as total debt divided by the sum of total debt plus total equity as of the end of the period.


(c)
Book value per share is calculated as total equity divided by total outstanding shares as of the end of the period.


(d)
Includes independent research and development and Aerospace product-development costs.


(e)
Return on sales is calculated as net earnings divided by revenue.


(f)
We believe earnings before interest, taxes, depreciation and amortization (EBITDA) is a useful measure for investors because it provides another measure of our profitability and our ability to service our debt. We calculate EBITDA by adding back interest, taxes, depreciation and amortization to net earnings. The most directly comparable GAAP measure to EBITDA is net earnings.


(g)
We believe free cash flow from operations is a useful measure for investors because it portrays our ability to generate cash from our businesses for purposes such as repaying maturing debt, funding business acquisitions, repurchasing our common stock and paying dividends. We use free cash flow from operations to assess the quality of our earnings and as a key performance measure in evaluating management. The most directly comparable GAAP measure to free cash flow from operations is net cash provided (used) by operating activities.
EXHIBIT F
BACKLOG - (UNAUDITED)
DOLLARS IN MILLIONS



Funded
Unfunded
Total
Backlog
Estimated
Potential
Contract Value*
Total
Estimated
Contract Value
First Quarter 2021:









Aerospace
$
11,545

$
384

$
11,929

$
2,312

$
14,241
Marine Systems
27,676

22,075

49,751

2,815

52,566
Combat Systems
14,085

143

14,228

9,120

23,348
Technologies
10,003

3,670

13,673

27,530

41,203
Total
$
63,309

$
26,272

$
89,581

$
41,777

$
131,358
Fourth Quarter 2020:









Aerospace
$
11,308

$
318

$
11,626

$
2,800

$
14,426
Marine Systems
23,646

26,336

49,982

4,876

54,858
Combat Systems
14,341

226

14,567

9,774

24,341
Technologies
9,488

3,826

13,314

27,727

41,041
Total
$
58,783

$
30,706

$
89,489

$
45,177

$
134,666
First Quarter 2020:









Aerospace
$
12,998

$
274

$
13,272

$
2,837

$
16,109
Marine Systems
26,112

17,053

43,165

4,460

47,625
Combat Systems
14,373

244

14,617

4,253

18,870
Technologies
10,322

4,356

14,678

26,595

41,273
Total
$
63,805

$
21,927

$
85,732

$
38,145

$
123,877


*
The estimated potential contract value includes work awarded on unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options associated with existing firm contracts, including options and other agreements with existing customers to purchase new aircraft and aircraft services. We recognize options in backlog when the customer exercises the option and establishes a firm order. For IDIQ contracts, we evaluate the amount of funding we expect to receive and include this amount in our estimated potential contract value. The actual amount of funding received in the future may be higher or lower than our estimate of potential contract value.
EXHIBIT F-1
BACKLOG - (UNAUDITED)
DOLLARS IN MILLIONS
Exhibit F-1

https://mma.prnewswire.com/media/1497917/Exhibit_F_1.jpg

EXHIBIT F-2
BACKLOG BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS
EXHIBIT F-2 Aerospace

https://mma.prnewswire.com/media/1497918/EXHIBIT_F_2_Aerospace.jpg

EXHIBIT F-2 Marine Systems

https://mma.prnewswire.com/media/1497920/EXHIBIT_F_2_Marine_Systems.jpg
EXHIBIT F-2 Combat Systems

https://mma.prnewswire.com/media/1497923/EXHIBIT_F_2_Combat_Systems.jpg

EXHIBIT F-2 Technologies

https://mma.prnewswire.com/media/1497925/EXHIBIT_F_2_Technologies.jpg

EXHIBIT F-2 Segment Key

https://mma.prnewswire.com/media/1497926/EXHIBIT_F_2_Segment_Key.jpg

EXHIBIT G
FIRST QUARTER 2021 SIGNIFICANT ORDERS - (UNAUDITED)
DOLLARS IN MILLIONS
We received the following significant contract awards during the first quarter of 2021:

Marine Systems:

$1.9 billion from the U.S. Navy for the construction of a tenth submarine in Block V of the Virginia-class submarine program.
$75 from the Navy for Advanced Nuclear Plant Studies (ANPS) in support of the Columbia-class submarine program.
$30 from the Navy for maintenance and modernization work on the USS Princeton, a Ticonderoga-class guided-missile cruiser.
Combat Systems:

$295 from the U.S. Army for various munitions and ordnance.
$225 from the Army for inventory management and support services for the Stryker fleet.
$120 from the Army to provide systems technical support for Abrams main battle tanks.
$110 to produce M3 amphibious bridging vehicles for an international customer.
$70 from the Army to upgrade Abrams tanks to the M1A2 System Enhancement Package Version 3 (SEPv3) configuration.
Technologies:

A contract to provide information technology (IT) and technical support services to the Defense Intelligence Agency (DIA) and the National Geospatial-Intelligence Agency (NGA) under the Solutions for the Information Technology Enterprise (SITE) III program. The program has a maximum potential value of $12.6 billion among multiple awardees.
An IDIQ contract to provide ship, carrier, submarine and service craft modernization for the Navy. The program has a maximum potential value of $805 among multiple awardees.
$45 from the U.S. Coast Guard to provide sustainment support for the Rescue 21 program. The contract has a maximum potential value of $235 .
$200 from the Federal Emergency Management Agency (FEMA) to provide Coronavirus (COVID-19)-related contact-center operations and support services.
$175 from the Army for computing and communications equipment under the Common Hardware Systems-5 (CHS-5) program.
$135 to provide enterprise IT, communications and mission command support services to U.S. Army Europe .
$130 to provide turnkey training and simulation services for the Army's Aviation Center of Excellence in Fort Rucker, Alabama .
$120 from the U.S. Air Force for the Battlefield Information Collection and Exploitation System (BICES) program to provide intelligence information sharing capabilities for the Department of Defense (DoD).
A contract to provide software development and IT support services to the U.S. Patent and Trademark Office. The contract has a maximum potential value of $95 .
$70 from the Army for the production of Prophet enhanced ground-based signals intelligence and electronic warfare systems.
EXHIBIT H
AEROSPACE SUPPLEMENTAL DATA - (UNAUDITED)





First Quarter






2021
2020
Gulfstream Aircraft Deliveries (units):







Large-cabin aircraft




25

20
Mid-cabin aircraft




3

3
Total




28

23









Aerospace Book-to-Bill:







Orders*




$
2,457

$
1,856
Revenue




1,887

1,691
Book-to-Bill Ratio




1.30x

1.10x


*
Does not include customer defaults, liquidated damages, cancellations, foreign exchange fluctuations and other backlog adjustments.
General Dynamics (PRNewsFoto/General Dynamics) (PRNewsFoto/General Dynamics)

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[ProfitScout]

General Dynamics to Webcast 2021 First-Quarter Financial Results Conference Call

RESTON, Va., April 9, 2021 /PRNewswire/ -- General Dynamics (NYSE: GD) will webcast its first-quarter 2021 financial results conference call on Wednesday, April 28, 2021, beginning at 9 a.m. EDT.

The live webcast of the conference call will be available at http://www.gd.com. A replay will be available shortly after the live presentation.

More information about General Dynamics is available at http://www.gd.com.

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SOURCE General Dynamics

[Porterhouse10]

Shot fired across the bow @$180, time to move towards that Two Double Zero!

[Porterhouse10]

Monsta! Let's see $200 soon!

[Porterhouse10]

Thanks for that on a rough day! Lovin $GD, growth, yield and growth in Yield! Cheers

[ProfitScout]

GENERAL DYNAMICS BOARD INCREASES DIVIDEND

RESTON, Va. , March 3, 2021 /PRNewswire/ -- The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of $1.19 per share on the company's common stock, payable May 7, 2021 , to shareholders of record on April 9, 2021 . This is the 24th consecutive annual dividend increase authorized by the General Dynamics board, and represents an 8.2% increase over last year's dividend.

Headquartered in Reston, Virginia , General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020. More information is available at http://www.gd.com .

General Dynamics (PRNewsFoto/General Dynamics) (PRNewsFoto/General Dynamics)

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SOURCE General Dynamics

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[Porterhouse10]

One of the Anchors in the Roth, love this Bad Boy, way off its highs.

[Norton1973]

Great news, just one after the other!
Surprised there are not more people on the GD board.

[ProfitScout]

GDIT ANNOUNCES AVAILABILITY OF AWS SERVICES ON MILCLOUD 2.0
DoD mission partners will have immediate access to a comprehensive and secure portfolio of cloud services via milCloud 2.0

FAIRFAX, Va. , Feb. 1, 2021 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today the availability of Amazon Web Services (AWS) through the milCloud 2.0 contract, providing Department of Defense (DoD) mission partners access to an expanded portfolio of secure cloud services. Defense agencies now have another mechanism to quickly and easily move their workloads to AWS through a streamlined contracting process.

A fit-for-purpose, high-security commercial cloud, milCloud 2.0 offers ease of use and affordability for mission-critical applications and data. This solution now allows mission partners to take advantage of the latest technology and innovate more quickly with artificial intelligence, machine learning, cyber sensing and other emerging capabilities. milCloud 2.0 enables the DoD and the Defense Information Systems Agency (DISA) to accelerate cloud adoption, simplify acquisition, achieve cost savings and improve mission effectiveness through a single contract.

"We're pleased to announce milCloud 2.0 capabilities are now expanded to also provide mission partners leading cloud services from AWS," said Leigh Palmer , senior vice president of GDIT's defense division. "This aligns precisely with the DoD Hybrid Cloud Strategy and actually simplifies acquisition and choice for the DoD and DISA mission partners."

Users across the DoD enterprise can leverage the milCloud 2.0 contract for migrations, application modernization and new application development, and can now take advantage of cloud services from AWS in areas such as analytics, edge computing, end user computing and security. With streamlined onboarding via the existing milCloud 2.0 contract, DoD mission partners can swiftly acquire cloud services for a wide variety of workloads.

"Through this collaboration between AWS and GDIT, DoD customers can access leading cloud services from AWS in areas such as compute, storage, database, networking, analytics, machine learning, migration, security, and more," said Dave Levy , vice president of U.S. Government, Nonprofit and Healthcare at AWS. "We look forward to continuing to support the department's modernization efforts and the mission critical needs of our nation's warfighters."

More information about GDIT is available at www.gdit.com . milCloud 2.0 is held by CSRA LLC, a General Dynamics Information Technology (GDIT) managed affiliate. milCloud and the milCloud logo are registered trademarks owned by the Defense Information Systems Agency (DISA).

Headquartered in Reston, Virginia , General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020. More information is available at http://www.gd.com .

GDIT announced today the availability of Amazon Web Services (AWS) through the milCloud 2.0 contract, providing DoD mission partners access to an expanded portfolio of secure cloud services.

DoD mission partners will have immediate access to a comprehensive and secure portfolio of cloud services via milCloud 2.0.

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SOURCE General Dynamics Information Technology

News Provided by PR Newswire via QuoteMedia

[Norton1973]

Great news, thanks! Long time holder here.

[ProfitScout]

GENERAL DYNAMICS AWARDED PRIME CONTRACTOR DESIGNATION ON $3.3 BILLION U.S. STATE DEPARTMENT GLOBAL SUPPORT STRATEGY 2.0 IDIQ

FALLS CHURCH, Va. , Jan. 22, 2021 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today that it has been selected as one of three prime contractors on the U.S. Department of State's Global Support Strategy (GSS) 2.0 indefinite delivery, indefinite quantity contract vehicle (IDIQ). The IDIQ, awarded in fourth-quarter 2020, has a total estimated value of up to $3.3 billion over a 10 year period, inclusive of a one-year base period and nine one-year options.

GDIT announced that it has been selected as one of three prime contractors on the U.S. Department of State’s Global Support Strategy (GSS) 2.0 indefinite delivery, indefinite quantity contract vehicle (IDIQ).

"We have been providing visa-related services to the U.S. Department of State for more than 20 years and look forward to building on this legacy with innovative technical and process solutions to improve service efficiency and customer experience," said Paul Nedzbala , GDIT senior vice president for the federal civilian division. "The Bureau of Consular Affairs is the department's public face for the global community, and this contract will provide responsive and efficient consular services to facilitate travel to the United States for millions of people."

Under the contract, GDIT will deliver overseas consulate support services to the Bureau of Consular Affairs in support of visa application and issuance at U.S. embassies and consulates throughout the world. GDIT will build upon an extensive record under the previously awarded GSS 1.0 contract to provide services such as fee collection, document delivery and mission-focused enterprise IT tailored to the complex global environment.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about General Dynamics Information Technology is available at http://www.gdit.com . More information about General Dynamics is available at http://www.gd.com .


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SOURCE General Dynamics Information Technology

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[Norton1973]

$GD, General Dynamics Awarded $695 Million U.S. Army Europe Contract for Enterprise Mission Information Technology Services.

[ProfitScout]

GD Coverd here: Global Non-lethal Biochemical Weapons Market (2020) to Witness Huge Growth by 2026 | Lamperd Less Lethal, BAE Systems, Inc., QinetiqGroup, Inc.

apexresearch
December 28, 2020

LINK:
https://www.mccourier.com/global-non-lethal-biochemical-weapons-market-2020-to-witness-huge-growth-by-2026-lamperd-less-lethal-bae-systems-inc-qinetiqgroup-inc/

Major companies listed in the market includes:

Lamperd Less Lethal
BAE Systems, Inc.
QinetiqGroup, Inc.
General Dynamics Corporation
TASER International,Inc.
Moog, Inc.
Raytheon Company
Chemring Group PLC.
Textron Systems, Corp
LRAD Corporation

[ProfitScout]

GENERAL DYNAMICS AWARDED $4.6 BILLION U.S. ARMY CONTRACT FOR LATEST CONFIGURATION OF ABRAMS MAIN BATTLE TANKS

M1A2 SEPv3 configuration features innovative advancements

STERLING HEIGHTS, Mich. , Dec. 23, 2020 /PRNewswire/ -- General Dynamics Land Systems, a business unit of General Dynamics (NYSE:GD), announced today that it was awarded a $4.6 billion fixed-price-incentive contract to produce M1A2 SEPv3 Abrams main battle tanks for the U.S. Army.

General Dynamics Land Systems was awarded a $4.6 billion fixed-price-incentive contract to produce M1A2 SEPv3 Abrams main battle tanks for the U.S. Army.

Work locations and funding will be determined with each order, with an estimated completion date of June 17, 2028 . The first delivery order is valued at an estimated $406 million .

"We are pleased to continue our support to the Army on the modernization of the Abrams main battle tank," said Don Kotchman , Vice President and General Manager of General Dynamics Land Systems U.S.

The state-of-the-art M1A2 SEPv3 configuration features technological advancements in communications, fire control and lethality, reliability, sustainment and fuel efficiency, plus upgraded armor. Additionally, the SEPv3 Abrams is designed to seamlessly accept future upgrades.

The SEPv3 configuration further modernizes the tank that has set the global standard for four decades. The Abrams main battle tank is built to confront and destroy enemy forces using unrivaled firepower, maneuverability and shock effect. With its manually loaded, 120mm M256 smoothbore cannon, the Abrams can overmatch against armored vehicles, personnel and even low-flying aircraft. General Dynamics Land Systems is collaborating with the Army to ensure it continues to have the strongest and most technologically advanced tank fleet in the world.

General Dynamics Land Systems provides innovative design, engineering, technology, production and full life-cycle support for land combat vehicles around the globe. The company's extensive experience, customer-first focus and seasoned supply chain network provide unmatched capabilities to the U.S. military and its allies.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about General Dynamics Land Systems is available at http://www.gdls.com. More information about General Dynamics is available at http://www.gd.com.

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SOURCE General Dynamics Land Systems

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[Porterhouse10]

Looks like she wants to head down to $141'sh, will be ready $GD

[Norton1973]

Nice divy!

$GD General Dynamics

[ProfitScout]

GENERAL DYNAMICS BOARD DECLARES DIVIDEND

RESTON, Va. , Dec. 2, 2020 /PRNewswire/ -- The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of $1.10 per share on the company's common stock, payable February 5, 2021 , to shareholders of record on January 15, 2021 .

General Dynamics, headquartered in Reston, Virginia , is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019.

More information is available at http://www.gd.com .

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SOURCE General Dynamics

News Provided by PR Newswire via QuoteMedia

[Norton1973]

$GD, nice contract, nice to have GDIT part of GD.

[ProfitScout]

GENERAL DYNAMICS INFORMATION TECHNOLOGY AWARDED $241 MILLION MULTI-CLOUD CONTRACT BY CENTERS FOR MEDICARE AND MEDICAID SERVICES

GDIT SELECTED TO EVOLVE ONE OF THE LARGEST PUBLIC CLOUDS IN THE FEDERAL GOVERNMENT

FALLS CHURCH, Va. , Nov. 25, 2020 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today it has been awarded a new contract by the Department of Health and Human Services Centers for Medicare and Medicaid Services (CMS) to provide cloud services and software tools. The Cloud Products and Tool (CPT) task order holds a total estimated value of $241 million , on a one-year base period with three one-year options.

GDIT announced today it has been awarded a new contract by the Department of Health and Human Services Centers for Medicare and Medicaid Services to provide cloud services and software tools.

GDIT will procure cloud services and implement a mature multi-cloud environment designed to deliver critical healthcare services to tens of millions of Americans through applications such as Medicare.gov and Healthcare.gov. CMS operates one of the largest public clouds in the federal government, and the new instances procured under CPT will include Amazon Web Services public cloud and GovCloud, and Microsoft Azure Government.

"We look forward to continuing our 40-year partnership with CMS and providing innovative and cost efficient delivery of cloud services," said GDIT president, Amy Gilliland .

Through CPT, GDIT will deliver increased value to CMS by accelerating the procurement and implementation of cloud services, professional services, cloud training, tools and software, in addition to simplifying the financial management of cloud assets.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about General Dynamics Information Technology is available at http://www.gdit.com . More information about General Dynamics is available at http://www.gd.com.

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SOURCE General Dynamics Information Technology

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[Norton1973]

$GD, is getting some very nice contracts.

[ProfitScout]

GENERAL DYNAMICS ELECTRIC BOAT AWARDED $9.5 BILLION BY U.S. NAVY FOR COLUMBIA-CLASS SUBMARINES

EB IS PRIME CONTRACTOR ON DESIGN AND PRODUCTION OF NEW CLASS OF SUBMARINES, THE NATION'S TOP STRATEGIC DEFENSE PRIORITY

GROTON, Conn. , Nov. 5, 2020 /PRNewswire/ -- General Dynamics Electric Boat, a business unit of General Dynamics (NYSE:GD), announced today that the U.S. Navy has awarded it a $9.474 billion contract modification option for construction and test of the lead and second ships of the Columbia class, as well as associated design and engineering support.

Electric Boat is the prime contractor on the Columbia program, which will replace the aging Ohio class of ballistic missile submarines.

Electric Boat will perform about 78% of the construction of the Columbia class and recently shifted the program to full-scale construction at the company's manufacturing complex in Quonset Point, Rhode Island . Construction of four of the six 'supermodules' will take place at Electric Boat's Quonset Point facility. The supermodules will then be transported by barge to the company's Final Test and Assembly yard in Groton, Connecticut , where the components will be assembled into a complete submarine in a 200,000 square-foot facility now under construction specifically for the Columbia class.

General Dynamics recently reported that the design maturity for Columbia was almost 90% complete, nearly twice the level of design completion of the lead Virginia-class submarine when it started construction.

"Electric Boat has been making preparations for construction of the Columbia class for nearly a decade, including advancing the design of this critical Navy asset, hiring and training thousands of skilled tradespeople, modernizing our facilities and helping to bolster the supply base. As a result, Columbia's design is more advanced than that of any previous submarine program," said Kevin Graney , president of General Dynamics Electric Boat. "We are grateful for the unwavering support of the Navy and Congress in securing funding to avoid disruption of this critical program."

At 560 feet long with a displacement of nearly 21,000 tons, the submarines of the Columbia class will be the largest ever built by the United States. Ships of the Columbia class will have a life-of-ship fuel core that will power the submarine for its entire service life, eliminating the need for a mid-service refueling. Electric Boat will deliver the lead ship to the Navy in 2027.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about Electric Boat is available at http://www.gdeb.com . More information about General Dynamics is available at http://www.gd.com .


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SOURCE General Dynamics Electric Boat

[ProfitScout]

GENERAL DYNAMICS AWARDED $4.4 BILLION DEPARTMENT OF DEFENSE ENTERPRISE CLOUD CONTRACT

GDIT TO HELP IMPROVE COLLABORATION AND INFORMATION SHARING ACROSS THE DOD WITH THE LARGEST EVER DEPLOYMENT OF MICROSOFT OFFICE 365.

FAIRFAX, Va., Nov. 3, 2020 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE: GD), announced today it was awarded the Defense Enterprise Office Solutions (DEOS) contract by the General Services Administration (GSA) in partnership with the Defense Department (DoD) and the Defense Information Systems Agency (DISA).

General Dynamics Information Technology announced it was awarded the Defense Enterprise Office Solutions (DEOS) contract by the General Services Administration in partnership with the Defense Department and the Defense Information Systems Agency.

DEOS will streamline the DoD's use of cloud email and collaborative tools while enhancing cybersecurity and information sharing across the DoD's enterprise based on the latest commercial technology. GDIT will stand up and accredit DEOS cloud environments as well as support the migration of existing DoD Office 365 (O365) tenants into DEOS. The DEOS environments are intended to support over 3.2 million DoD users and GDIT will provide engineering, migration, training and support services for those users. DoD estimates the value of the DEOS Blanket Purchase Agreement (BPA) at $4.4 billion over a 10-year period, which includes a five-year base period with two two-year options and one one-year option.

"GDIT looks forward to our continued partnership with GSA, the DoD and DISA in achieving the goals outlined in the DoD Cloud Strategy. DEOS will provide new and powerful collaboration capabilities to users across the enterprise and all the way to the tactical edge while driving efficiencies and enhancing the DoD security posture," said Amy Gilliland , president, GDIT. "The demand for DEOS capabilities have been further amplified by the COVID-19 crisis and more than ever, it's imperative that we accelerate the deployment of technology to support our mission partners."

Under the contract, GDIT will replace legacy DoD IT office applications with an enterprise-wide standard cloud-based solution across all military services worldwide for both unclassified (IL5) and classified (IL6) environments. This solution will allow DoD users and mission partners to more seamlessly collaborate and share information regardless of their location or DoD organization. DEOS represents a major pillar of the DoD CIO's cloud strategy, the largest ever deployment of Microsoft O365 and the first deployment of O365 in a DoD classified environment.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about General Dynamics Information Technology is available at http://www.gdit.com. More information about General Dynamics is available at http://www.gd.com.


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SOURCE General Dynamics Information Technology

[ProfitScout]

GENERAL DYNAMICS REPORTS THIRD-QUARTER 2020 RESULTS

- NET EARNINGS OF $834 MILLION AND DILUTED EPS OF $2.90, UP 33% SEQUENTIALLY
- OPERATING MARGIN UP 240 BASIS POINTS OVER SECOND QUARTER
- CASH FROM OPERATING ACTIVITIES 134% OF NET EARNINGS

RESTON, Va. , Oct. 28, 2020 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported third-quarter 2020 net earnings of $834 million on revenue of $9.4 billion . Diluted earnings per share (EPS) were $2.90 . Revenue was up 1.8% over the previous quarter, while net earnings and diluted EPS grew 33%.

"As we manage through this challenging time, we remain focused on the basics of operating performance, especially cash conversion and the early and aggressive management of costs, as evidenced this quarter by our strong operating margin and return on sales," said Phebe N. Novakovic , chairman and chief executive officer. "Moreover, we continue to reduce debt and invest in the company for future growth."

Margin
Company-wide operating margin for the quarter was 11.5%, a 240 basis-point increase from the previous quarter, with a notable increase of 620 basis points in the Aerospace segment's margin. Return on sales was 8.8%, a 210 basis-point increase over the previous quarter.

Cash
Net cash provided by operating activities in the quarter totaled $1.1 billion , or 134% of net earnings. Free cash flow from operations, defined as net cash provided by operating activities less capital expenditures, was $903 million , a 108% conversion of net earnings.

Capital Deployment
In the third quarter, the company reduced its net debt by $388 million to $11.9 billion , a decrease of 3.2% from the previous quarter. Capital expenditures were $216 million , or 2.3% of revenue.

Backlog
General Dynamics' total backlog at the end of third-quarter 2020 was $81.5 billion , up 21% from the year-ago quarter. Estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $50.4 billion . Total estimated contract value, the sum of all backlog components, was $131.9 billion at the end of the quarter.

Significant awards in the quarter included $870 million to deliver 8x8 combat vehicles and provide maintenance and life cycle support to the Spanish Ministry of Defense; a contract with a maximum potential value of $760 million from the U.S. Department of Defense (DoD) for enterprise information technology and cybersecurity services and solutions; a contract with a maximum potential value of $365 million to provide command, control and communications capabilities for the DoD; an IDIQ contract with a maximum potential value of $250 million from the U.S. Army to produce Small Multipurpose Equipment Transport (SMET) vehicles; $240 million from the U.S. Navy for ship maintenance and repair services; a contract with a maximum potential value of $240 million from the U.S. Department of Health and Human Services Centers for Medicare and Medicaid Services for cloud services and software tools; $155 million from the Navy for Advanced Nuclear Plant Studies (ANPS) in support of various submarine programs; $145 million for several key Information Technology contracts to provide intelligence services to classified customers; and $140 million for several key Mission Systems contracts for classified customers.

About General Dynamics
Headquartered in Reston, Virginia , General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs approximately 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information is available at http://www.gd.com .

Certain statements made in this press release, including any statements as to future results of operations and financial projections, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the company's filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. All forward-looking statements speak only as of the date they were made. The company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

WEBCAST INFORMATION: General Dynamics will webcast its third-quarter 2020 financial results conference call at 9 a.m. EDT on Wednesday, October 28, 2020 . The webcast will be a listen-only audio event available at http://www.gd.com . An on-demand replay of the webcast will be available one hour after the end of the call and end on November 4, 2020 . To hear a recording of the conference call by telephone, please call 1-877-344-7529 (international: 1-412-317-0088) passcode 10148284. Charts furnished to investors and securities analysts in connection with General Dynamics' announcement of its financial results are available at www.gd.com .

EXHIBIT A
CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS

Three Months Ended
Variance

September 27, 2020
September 29, 2019
$
%
Revenue
$
9,431

$
9,761

$
(330)

(3.4)
%
Operating costs and expenses
(8,347)

(8,545)

198


Operating earnings
1,084

1,216

(132)

(10.9)
%
Other, net
12

(12)

24


Interest, net
(118)

(114)

(4)


Earnings before income tax
978

1,090

(112)

(10.3)
%
Provision for income tax, net
(144)

(177)

33


Net earnings
$
834

$
913

$
(79)

(8.7)
%
Earnings per share—basic
$
2.91

$
3.17

$
(0.26)

(8.2)
%
Basic weighted average shares outstanding
286.5

288.4




Earnings per share—diluted
$
2.90

$
3.14

$
(0.24)

(7.6)
%
Diluted weighted average shares outstanding
287.2

290.9




EXHIBIT B
CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS


Nine Months Ended
Variance

September 27, 2020
September 29, 2019
$
%
Revenue
$
27,444

$
28,577

$
(1,133)

(4.0)
%
Operating costs and expenses
(24,578)

(25,257)

679


Operating earnings
2,866

3,320

(454)

(13.7)
%
Other, net
44

18

26


Interest, net
(357)

(350)

(7)


Earnings before income tax
2,553

2,988

(435)

(14.6)
%
Provision for income tax, net
(388)

(524)

136


Net earnings
$
2,165

$
2,464

$
(299)

(12.1)
%
Earnings per share—basic
$
7.54

$
8.55

$
(1.01)

(11.8)
%
Basic weighted average shares outstanding
287.1

288.1




Earnings per share—diluted
$
7.52

$
8.47

$
(0.95)

(11.2)
%
Diluted weighted average shares outstanding
288.1

290.8




EXHIBIT C
REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS


Three Months Ended
Variance

September 27, 2020
September 29, 2019
$
%
Revenue:






Aerospace
$
1,975

$
2,495

$
(520)

(20.8)
%
Combat Systems
1,801

1,740

61

3.5
%
Information Technology
2,029

2,071

(42)

(2.0)
%
Mission Systems
1,221

1,220

1

0.1
%
Marine Systems
2,405

2,235

170

7.6
%
Total
$
9,431

$
9,761

$
(330)

(3.4)
%
Operating earnings:






Aerospace
$
283

$
393

$
(110)

(28.0)
%
Combat Systems
270

264

6

2.3
%
Information Technology
146

146

—

—
%
Mission Systems
168

185

(17)

(9.2)
%
Marine Systems
223

209

14

6.7
%
Corporate
(6)

19

(25)

(131.6)
%
Total
$
1,084

$
1,216

$
(132)

(10.9)
%
Operating margin:






Aerospace
14.3
%
15.8
%



Combat Systems
15.0
%
15.2
%



Information Technology
7.2
%
7.0
%



Mission Systems
13.8
%
15.2
%



Marine Systems
9.3
%
9.4
%



Total
11.5
%
12.5
%



EXHIBIT D
REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS


Nine Months Ended
Variance

September 27, 2020
September 29, 2019
$
%
Revenue:






Aerospace
$
5,640

$
6,871

$
(1,231)

(17.9)
%
Combat Systems
5,263

5,035

228

4.5
%
Information Technology
5,901

6,398

(497)

(7.8)
%
Mission Systems
3,518

3,655

(137)

(3.7)
%
Marine Systems
7,122

6,618

504

7.6
%
Total
$
27,444

$
28,577

$
(1,133)

(4.0)
%
Operating earnings:






Aerospace
$
682

$
1,052

$
(370)

(35.2)
%
Combat Systems
732

712

20

2.8
%
Information Technology
379

456

(77)

(16.9)
%
Mission Systems
480

495

(15)

(3.0)
%
Marine Systems
607

586

21

3.6
%
Corporate
(14)

19

(33)

(173.7)
%
Total
$
2,866

$
3,320

$
(454)

(13.7)
%
Operating margin:






Aerospace
12.1
%
15.3
%



Combat Systems
13.9
%
14.1
%



Information Technology
6.4
%
7.1
%



Mission Systems
13.6
%
13.5
%



Marine Systems
8.5
%
8.9
%



Total
10.4
%
11.6
%



EXHIBIT E
CONSOLIDATED BALANCE SHEET
DOLLARS IN MILLIONS


(Unaudited)


September 27, 2020
December 31, 2019
ASSETS


Current assets:


Cash and equivalents
$
1,469

$
902
Accounts receivable
3,863

3,544
Unbilled receivables
8,143

7,857
Inventories
6,402

6,306
Other current assets
988

1,171
Total current assets
20,865

19,780
Noncurrent assets:


Property, plant and equipment, net
4,863

4,475
Intangible assets, net
2,162

2,315
Goodwill
19,889

19,677
Other assets
2,479

2,594
Total noncurrent assets
29,393

29,061
Total assets
$
50,258

$
48,841
LIABILITIES AND SHAREHOLDERS' EQUITY


Current liabilities:


Short-term debt and current portion of long-term debt
$
3,394

$
2,920
Accounts payable
2,613

3,162
Customer advances and deposits
6,086

7,148
Other current liabilities
4,027

3,571
Total current liabilities
16,120

16,801
Noncurrent liabilities:


Long-term debt
9,978

9,010
Other liabilities
9,444

9,453
Total noncurrent liabilities
19,422

18,463
Shareholders' equity:


Common stock
482

482
Surplus
3,082

3,039
Retained earnings
32,812

31,633
Treasury stock
(17,805)

(17,358)
Accumulated other comprehensive loss
(3,855)

(4,219)
Total shareholders' equity
14,716

13,577
Total liabilities and shareholders' equity
$
50,258

$
48,841
EXHIBIT F
CONSOLIDATED STATEMENT OF CASH FLOWS - (UNAUDITED)
DOLLARS IN MILLIONS


Nine Months Ended

September 27, 2020
September 29, 2019
Cash flows from operating activities—continuing operations:


Net earnings
$
2,165

$
2,464
Adjustments to reconcile net earnings to net cash from operating activities:


Depreciation of property, plant and equipment
376

352
Amortization of intangible and finance lease right-of-use assets
267

273
Equity-based compensation expense
91

103
Deferred income tax benefit
(112)

(72)
(Increase) decrease in assets, net of effects of business acquisitions:


Accounts receivable
(336)

253
Unbilled receivables
(239)

(1,603)
Inventories
(134)

(646)
Increase (decrease) in liabilities, net of effects of business acquisitions:


Accounts payable
(558)

(164)
Customer advances and deposits
(906)

(565)
Other current liabilities
360

191
Other, net
322

1
Net cash provided by operating activities
1,296

587
Cash flows from investing activities:


Capital expenditures
(622)

(606)
Other, net
33

2
Net cash used by investing activities
(589)

(604)
Cash flows from financing activities:


Proceeds from fixed-rate notes
3,960

—
Repayment of fixed-rate notes
(2,000)

—
Dividends paid
(925)

(858)
Purchases of common stock
(501)

(231)
Repayment of floating-rate notes
(500)

—
Proceeds from commercial paper, gross (maturities greater than 3 months)
420

—
Repayment of commercial paper, gross (maturities greater than 3 months)
(420)

—
Proceeds from commercial paper, net
—

947
Other, net
(134)

207
Net cash (used) provided by financing activities
(100)

65
Net cash used by discontinued operations
(40)

(37)
Net increase in cash and equivalents
567

11
Cash and equivalents at beginning of period
902

963
Cash and equivalents at end of period
$
1,469

$
974
EXHIBIT G
ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS

Other Financial Information:







September 27, 2020
December 31, 2019



Debt-to-equity (a)
90.9
%
87.9
%



Debt-to-capital (b)
47.6
%
46.8
%



Book value per share (c)
$
51.28

$
46.88




Shares outstanding
286,972,150

289,610,336













Third Quarter
Nine Months

2020
2019
2020
2019
Income tax payments, net
$
289

$
90

$
345

$
487
Company-sponsored research and
development (d)
$
97

$
110

$
291

$
352
Return on sales (e)
8.8
%
9.4
%
7.9
%
8.6
%








Non-GAAP Financial Measures:







Third Quarter
Nine Months

2020
2019
2020
2019
Earnings before interest, taxes,
depreciation and amortization:






Net earnings
$
834

$
913

$
2,165

$
2,464
Interest, net
118

114

357

350
Provision for income tax, net
144

177

388

524
Depreciation of property, plant and
equipment
122

120

376

352
Amortization of intangible and finance
lease right-of-use assets
90

90

267

273
Earnings before interest, taxes,
depreciation and amortization (f)
$
1,308

$
1,414

$
3,553

$
3,963








Free cash flow from operations:






Net cash provided by operating
activities
$
1,119

$
1,091

$
1,296

$
587
Capital expenditures
(216)

(244)

(622)

(606)
Free cash flow from operations (g)
$
903

$
847

$
674

$
(19)



(a)
Debt-to-equity ratio is calculated as total debt divided by total equity as of the end of the period.


(b)
Debt-to-capital ratio is calculated as total debt divided by the sum of total debt plus total equity as of the end of the period.


(c)
Book value per share is calculated as total equity divided by total outstanding shares as of the end of the period.


(d)
Includes independent research and development and Aerospace product-development costs.


(e)
Return on sales is calculated as net earnings divided by revenue.


(f)
We believe earnings before interest, taxes, depreciation and amortization (EBITDA) is a useful measure for investors because it provides another measure of our profitability and our ability to service our debt. We calculate EBITDA by adding back interest, taxes, depreciation and amortization to net earnings. The most directly comparable GAAP measure to EBITDA is net earnings.


(g)
We believe free cash flow from operations is a useful measure for investors because it portrays our ability to generate cash from our businesses for purposes such as repaying maturing debt, funding business acquisitions, repurchasing our common stock and paying dividends. We use free cash flow from operations to assess the quality of our earnings and as a key performance measure in evaluating management. The most directly comparable GAAP measure to free cash flow from operations is net cash provided by operating activities.
EXHIBIT H
BACKLOG - (UNAUDITED)
DOLLARS IN MILLIONS



Funded
Unfunded
Total
Backlog
Estimated
Potential
Contract Value *
Total
Estimated
Contract Value
Third Quarter 2020:









Aerospace
$
11,640

$
324

$
11,964

$
2,888

$
14,852
Combat Systems
14,511

200

14,711

6,593

21,304
Information Technology
5,558

3,411

8,969

18,925

27,894
Mission Systems
4,554

240

4,794

7,317

12,111
Marine Systems
23,958

17,124

41,082

14,666

55,748
Total
$
60,221

$
21,299

$
81,520

$
50,389

$
131,909
Second Quarter 2020:









Aerospace
$
11,874

$
239

$
12,113

$
2,834

$
14,947
Combat Systems
13,863

242

14,105

6,399

20,504
Information Technology
5,464

3,463

8,927

18,392

27,319
Mission Systems
4,856

185

5,041

7,510

12,551
Marine Systems
25,118

17,365

42,483

14,441

56,924
Total
$
61,175

$
21,494

$
82,669

$
49,576

$
132,245
Third Quarter 2019:









Aerospace
$
11,195

$
188

$
11,383

$
2,065

$
13,448
Combat Systems
15,069

449

15,518

4,255

19,773
Information Technology
4,782

4,381

9,163

18,063

27,226
Mission Systems
5,152

307

5,459

6,764

12,223
Marine Systems
17,801

8,072

25,873

4,497

30,370
Total
$
53,999

$
13,397

$
67,396

$
35,644

$
103,040


*
The estimated potential contract value includes work awarded on unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options associated with existing firm contracts, including options and other agreements with existing customers to purchase new aircraft and aircraft services. We recognize options in backlog when the customer exercises the option and establishes a firm order. For IDIQ contracts, we evaluate the amount of funding we expect to receive and include this amount in our estimated potential contract value. The actual amount of funding received in the future may be higher or lower than our estimate of potential contract value.
EXHIBIT H-1
BACKLOG - (UNAUDITED)
DOLLARS IN MILLIONS
EXHIBIT H-1

https://mma.prnewswire.com/media/1321089/Exhibit_H_1.jpg

EXHIBIT H-2
BACKLOG BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS
EXHIBIT H-2 Aerospace

https://mma.prnewswire.com/media/1321090/EXHIBIT_H_2_Aerospace.jpg
EXHIBIT H-2 Combat Systems

https://mma.prnewswire.com/media/1321091/EXHIBIT_H_2_Combat_Systems.jpg
EXHIBIT H-2 Information Technology

https://mma.prnewswire.com/media/1321092/EXHIBIT_H_2_Information_Technology.jpg
EXHIBIT H-2 Mission Systems

https://mma.prnewswire.com/media/1321093/EXHIBIT_H_2_Mission_Systems.jpg
EXHIBIT H-2 Marine Systems

https://mma.prnewswire.com/media/1321094/EXHIBIT_H_2_Marine_Systems.jpg
EXHIBIT H-2 Segment Key

https://mma.prnewswire.com/media/1321095/EXHIBIT_H_2_Segment_Key.jpg

EXHIBIT I
THIRD QUARTER 2020 SIGNIFICANT ORDERS - (UNAUDITED)
DOLLARS IN MILLIONS
We received the following significant contract awards during the third quarter of 2020:

Combat Systems:

$870 to deliver 8x8 wheeled combat vehicles, maintenance and life cycle support to the Spanish Ministry of Defense.
An IDIQ contract to produce Small Multipurpose Equipment Transport (SMET) vehicles for the U.S. Army. The contract has a maximum potential value of $250 .
$125 from the Army for various munitions and ordnance.
$55 from the U.S. Navy to produce gun systems for the F-35 Joint Strike Fighter.
$35 from the Army for the production of Improved Fire Control Electronics Units (IFCEUs) and Improved Commanders Display Units (ICDUs) for the Abrams tank program.
Information Technology:

$65 to provide enterprise information technology and cybersecurity services and solutions for the U.S. Department of Defense (DoD). The contract has a maximum potential value of $760 .
$70 to provide command, control and communications capabilities for the DoD. The contract has a maximum potential value of $365 .
$50 from the U.S. Department of Health and Human Services Centers for Medicare and Medicaid Services (CMS) to provide cloud services and software tools. The contract has a maximum potential value of $240 .
$145 for several key contracts to provide intelligence services to classified customers.
$110 to provide design, development, testing, installation, maintenance, logistics support and modernization services for Navy airborne and shipboard platforms.
$95 to provide logistics, sustainment and maintenance support services for the Army.
$50 from the U.S. Department of Veterans Affairs under the Veterans Intake, Conversion and Communications Services (VICCS) program to modernize benefits claims processing.
Mission Systems:

$140 for several key contracts for classified customers.
$95 from the Army for computing and communications equipment under the Common Hardware Systems-5 program.
$35 from the Army to provide continued software support and engineering for the Warfighter Information Network-Tactical (WIN-T) Increment 2 program.
Marine Systems:

$240 from the Navy to provide maintenance and repair services for the Arleigh Burke-class guided-missile destroyer, Independence-class Littoral Combat Ship (LCS), Ticonderoga-class guided-missile cruiser and Wasp-class amphibious assault ship programs.
$155 from the Navy for Advanced Nuclear Plant Studies (ANPS) in support of various submarine programs.
$115 from the Navy for maintenance and modernization work on the USS Hartford, a Los Angeles-class attack submarine.
$35 from the Navy for the Expeditionary Sea Base (ESB) auxiliary support ship program.
EXHIBIT J
AEROSPACE SUPPLEMENTAL DATA - (UNAUDITED)

Third Quarter
Nine Months


2020
2019
2020
2019
Gulfstream Aircraft Deliveries (units):







Large-cabin aircraft
25

29

71

79
Mid-cabin aircraft
7

9

16

24
Total
32

38

87

103









Aerospace Book-to-Bill:







Orders*
$
1,816

$
1,693

$
4,744

$
7,022
Revenue (excluding pre-owned aircraft sales)
1,975

2,404

5,640

6,735
Book-to-Bill Ratio
0.92x

0.70x

0.84x

1.04x


*
Does not include customer defaults, liquidated damages, cancellations, foreign exchange fluctuations and other backlog adjustments.
General Dynamics (PRNewsFoto/General Dynamics) (PRNewsFoto/General Dynamics)

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SOURCE General Dynamics

[ProfitScout]

General Dynamics awarded $761 million GSA contract for U.S. Southern Command cyber modernization

FALLS CHURCH, Va., Oct. 26, 2020 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today it has been awarded the Southern Command's (SOUTHCOM) Cyber Information Technology Enterprise Services (SCITES) contract by the U.S. General Service Administration (GSA) Federal Systems Integration and Management Center (FEDSIM). This new work will modernize and normalize information technology for SOUTHCOM combatant command blue terrain in the cyber warfighting domain to ensure an interoperable and defensible architecture. The single award holds a total estimated value of $761.6 million and includes a seven-month base period with six one-year options.

GDIT announced it has been awarded the Southern Command’s Cyber Information Technology Enterprise Services contract by the U.S. General Service Administration Federal Systems Integration and Management Center.

GDIT continues to expand its footprint within the Combatant Commands and Joint Task Forces mission areas. Through this contract, which was awarded in September, GDIT will provide global enterprise IT and digital modernization services. Work completed under SCITES will accelerate technical capability delivery, enable proactive enterprise situational awareness, enhance secure information sharing and improve operational efficiency.

"This new award demonstrates GDIT's continued dedication to the Combatant Commands and Joint Task Forces," said GDIT's Senior Vice President of Defense, Leigh Palmer. "Through this contract, GDIT will modernize the Command's IT infrastructure through innovation and emergent technology, delivering advanced security and transformational results to its mission."

GDIT will provide a full range of digital modernization services and technical solutions including installation, operations and maintenance of a Tier 3 Cyber Security System Provider (CSSP), cloud computing, edge computing, multiple X as a Service (XaaS) solutions, and software development.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about General Dynamics Information Technology is available at http://www.gdit.com. More information about General Dynamics is available at http://www.gd.com.

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SOURCE General Dynamics Information Technology


Copyright 2020 PR Newswire

[ProfitScout]

GENERAL DYNAMICS ELECTRIC BOAT AWARDED $327.8 MILLION NAVY CONTRACT TO SUPPORT FLEET MAINTENANCE AND VIRGINIA-CLASS SUB DEVELOPMENT AND DESIGN WORK

GROTON, Conn., Oct. 13, 2020 /PRNewswire/ -- General Dynamics Electric Boat, a wholly-owned subsidiary of General Dynamics (NYSE:GD), has been awarded a $327.8 million cost-plus-fixed-fee contract modification for fiscal year 2020 for lead yard support, development studies and design efforts for Virginia-class submarines.

A Virginia-class submarine under construction at General Dynamics Electric Boat in Groton, Connecticut. The shipyard was awarded a $327.8 million contract for fleet maintenance and sub design work.

Under the contract modification, Electric Boat will undertake development studies and other work related to Virginia-class submarine design improvements, including incorporation of new technologies. The work will engage Electric Boat's engineering and design organization, which comprises more than 5,000 employees. These employees work on all facets of the submarine life cycle from concept formulation and design through construction, maintenance and modernization, and eventually to inactivation and disposal.

"Over the life of the Virginia program, the shipbuilders of Electric Boat have made improvements to the design of each ship," said Kevin Graney , President, General Dynamics Electric Boat. "This lead yard services contract will fund critical research and development work to further advance the stealth, capability and superiority of the Virginia class, providing our sailors with a greater advantage in the undersea domain."

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about Electric Boat is available at http://www.gdeb.com . More information about General Dynamics is available at http://www.gd.com .

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SOURCE General Dynamics Electric Boat

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[Porterhouse10]

Thx! Loving the back log of work in the 10's of billions too, sold 1/3 of holdings in RAYTHEON $ RTX to buy here a week or so ago at $136 to add to very long term position.

[ProfitScout]

GENERAL DYNAMICS AWARDED $100 MILLION DEFENSE INTELLIGENCE AGENCY ENTERPRISE IT CONTRACT

GDIT WILL PROVIDE ENGINEERING EXPERTISE TO SUPPORT THE DEFENSE INTELLIGENCE AGENCY'S IT INFRASTRUCTURE MODERNIZATION.

FALLS CHURCH, Va. , Oct. 6, 2020 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today it was awarded an IT system modernization contract by the Defense Intelligence Agency (DIA). GDIT will provide worldwide engineering support to DIA's core IT infrastructure to include system design, architecture, testing plans, and security accreditation.

GDIT was awarded an IT system modernization contract by the Defense Intelligence Agency.

The Infrastructure Services Enterprise Engineering (ISEE) task order, under the Enhanced Solutions for the Information Technology Enterprise (E-SITE) indefinite-delivery, indefinite-quantity contract has an estimated value of $100 million and includes a base period of one year, four option years plus one six-month option. Work completed under the ISEE task is foundational to the future IT infrastructure of the Department of Defense Intelligence Information System (DODIIS).

"GDIT is excited to continue our 35-year relationship supporting DIA and their complex national security mission. The ISEE award is a true testament to GDIT's ability to develop and deliver enterprise IT Infrastructure solutions at scale," said Deb Davis , Vice President and General Manager, Mission Solutions and Service Sector for GDIT's Intelligence & Homeland Security Division. "As a mission support leader and trusted partner for DIA's IT backbone, we look forward to supporting the ongoing modernization of the DoDIIS Enterprise."

In addition to GDIT's previously awarded E-SITE task orders for network engineering, operations and cybersecurity solutions, this new work will continue to directly support DIA's strategic goals for core IT services and seamlessly further its global mission.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about General Dynamics is available at www.gd.com . More information about GDIT is available at www.gdit.com .

General Dynamics (PRNewsFoto/General Dynamics) (PRNewsFoto/General Dynamics)

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SOURCE General Dynamics Information Technology

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[Porterhouse10]

Big Boy stuff $GD

[ProfitScout]

GENERAL DYNAMICS LAND SYSTEMS AWARDED $1.2 BILLION U.S. ARMY CONTRACT FOR STRYKER IM-SHORAD VEHICLES

THE ARMY'S INITIAL ORDER IS FOR 28 VEHICLES, $230 MILLION

STERLING HEIGHTS, Mich. , Oct. 2, 2020 /PRNewswire/ -- General Dynamics Land Systems (GDLS), a business unit of General Dynamics (NYSE: GD), was awarded a $1.219 billion contract to produce, test and deliver Interim Maneuver Short-Range Air Defense (IM-SHORAD) systems to the U.S. Army. The Army's initial order on the contract calls for 28 Stryker IM-SHORAD vehicles for $230 million .

General Dynamics Land Systems was awarded a $1.219 billion contract to produce, test and deliver Interim Maneuver Short-Range Air Defense (IM-SHORAD) systems to the U.S. Army.

"General Dynamics and our teammates Leonardo DRS and Raytheon are pleased to be able to partner with the Army to bring this powerful capability to U.S. Soldiers," said Don Kotchman , Vice President and General Manager of GD Land Systems. "This dedicated SHORAD capability adds a new operational dimension to the Stryker fleet in all of the Army's maneuver formations."

The IM-SHORAD is designed to counter threats from Unmanned Aerial Systems (UAS) and a multitude of other Rotary and Fixed Wing aircraft, and provides a common Army platform that is cost-effective, highly mobile, survivable, sustainable and transportable.

Stryker continues to be a highly sought platform beyond the Stryker Brigade Combat Team formations.

Work locations and funding will be determined with each order, with an estimated completion date of September, 30, 2025. GD Land Systems has production locations in Tallahassee, Florida ; Scranton, Pennsylvania ; London, Ontario ; Lima, Ohio ; and Anniston, Alabama .

Headquartered in Sterling Heights, Michigan , General Dynamics Land Systems provides innovative design, engineering, technology, production and full life-cycle support for land combat vehicles around the globe. The company's extensive experience, customer-first focus and seasoned supply chain network provide unmatched capabilities to the U.S. military and its allies. More information about General Dynamics Land Systems is available at www.gdls.com .

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019. More information about General Dynamics is available at www.gd.com .

General Dynamics (PRNewsFoto/General Dynamics) (PRNewsFoto/General Dynamics)

CisionView original content to download multimedia: http://www.prnewswire.com/news-releases/general-dynamics-land-systems-awarded-1-2-billion-us-army-contract-for-stryker-im-shorad-vehicles-301144738.html

SOURCE General Dynamics Land Systems

News Provided by PR Newswire via QuoteMedia

[Porterhouse10]

Watched your video, I'm long $GD, very informative thx

[CMDFundamenntal]

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[KICK1]

Blockchain

[ProfitScout]

GENERAL DYNAMICS MISSION SYSTEMS AND DEDRONE ENTER STRATEGIC PARTNERSHIP TO PROVIDE COUNTER-DRONE TECHNOLOGY TO DEFENSE AND CIVIL CUSTOMERS

General Dynamics Mission Systems to integrate its mission-critical solutions with Dedrone's drone detection and defeat technologies to defend against unauthorized unmanned aerial systems.

FAIRFAX, Va., Sept. 3, 2020 /PRNewswire/ -- General Dynamics Missions Systems and Dedrone, the market leader in airspace security, announced today their strategic counter-drone partnership, providing General Dynamics' global network with access to Dedrone's complete drone detection and defeat technology. As part of this strategic agreement, General Dynamics Mission Systems becomes a value-added reseller for Dedrone's counter-unmanned aerial system (C-UAS) capabilities and has made a significant equity investment in Dedrone. General Dynamics will exclusively supply Dedrone's counter-drone technology to their global defense, civil government, intelligence, and critical infrastructure customers.

General Dynamics Mission Systems and Dedrone Enter Strategic Partnership

"The intrusion of private and restricted airspace by unmanned aerial systems is one of the fastest-growing threats facing our customers, and Dedrone's counter UAS technology platform is the market-leading solution to defeat those threats," said Chris Brady, president of General Dynamics Mission Systems and a newly appointed member of Dedrone's advisory board. "We're excited to partner with Dedrone to provide counter-drone capabilities to our global customer base."

In the counter-drone technology market, Dedrone's exclusive focus on C-UAS detection and defeat have enabled them to become the industry leader with the rare distinction of having production systems fielded and in operational use worldwide. The Dedrone C-UAS technology portfolio combines machine-learning software with best-in-class hardware sensors, electronic attack methods such as smart jamming, and defeat weapons to provide early warning, classification of, and mitigation against drone threats. Dedrone's capabilities are used by hundreds of customers globally, including the U.S. military, allied and coalition forces, correctional facilities, airports, utilities, and corporations, as well as other public and private organizations.

"Dedrone is thrilled to be partnering with General Dynamics Mission Systems, a leader in building smarter mission-critical products and systems," shares Aaditya Devarakonda, CEO of Dedrone. "With General Dynamics, Dedrone's technology will reach a broad, global customer base, opening opportunities to provide mission-critical airspace security systems to customers both in the U.S. federal and defense sectors, as well as their global critical enterprise security customers."

About Dedrone
Dedrone is the market leader in airspace security. Dedrone's counter-drone system is trusted by critical infrastructure, government operations, military assets, correctional facilities, and enterprises to protect against unwanted small drones. With flexibility to host in the cloud, or on premise, Dedrone's SaaS technology combines machine-learning software with best-in-class sensors and effectors, to provide early warning, classification of, and mitigation against all drone threats. Dedrone systems are deployed by hundreds of customers globally. Established in 2014, Dedrone is headquartered in San Francisco, with operations in the Washington, D.C.-area, Columbus, Ohio, London and Germany. For more information about Dedrone and to reach our counter-drone subject matter experts, visit dedrone.com and follow @Dedrone on Twitter and LinkedIn.

About General Dynamics Mission Systems
General Dynamics Mission Systems, a business unit of General Dynamics (NYSE: GD), provides mission critical solutions to those who lead, serve and protect the world we live in. We are a technology integrator and original equipment manufacturer with deep domain expertise in ground, sea, air, space and cyberspace. Headquartered in Fairfax, Virginia, General Dynamics Mission Systems employs more than 12,000 people worldwide. For more information about General Dynamics Mission Systems' broad portfolio of capabilities, visit gdmissionsystems.com and follow @GDMS on Twitter and LinkedIn.

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/general-dynamics-mission-systems-and-dedrone-enter-strategic-partnership-to-provide-counter-drone-technology-to-defense-and-civil-customers-301123360.html

SOURCE Dedrone


News Provided by PR Newswire via QuoteMedia

[Norton1973]

GD, good news. Why the sell down. Hmmmm....

[ProfitScout]

General Dynamics European Land Systems awarded €733 million (USD $870 million) of a €1.74 billion contract for 348 Spanish 8x8 combat vehicles
Program expected to grow to 1,000 vehicles.

MADRID, Aug. 25, 2020 /PRNewswire/ -- The Spanish Ministry of Defense today awarded a €1.74 billion (USD $2.06 billion) contract to a joint venture of General Dynamics European Land Systems-Santa Bárbara Sistemas (GDELS-SBS) and three other companies to deliver 348 8x8 Wheeled Combat Vehicles (VCR), their maintenance and life cycle support, as well as support their international commercialization. The GDELS-SBS contract is for €733 million (USD $870 million).

The program is expected to grow to a total of approximately 1,000 vehicles.

General Dynamics European Land Systems was awarded €733 million (USD $870 million) of a €1.74 billion contract for 348 Spanish 8x8 combat vehicles.

The vehicle, named "Dragón" by the Spanish Army, is based on the GDELS 8x8 PIRANHA 5's combat wheeled vehicle and includes all Spanish national technologies as required by the Spanish MoD. It is expected to be delivered over a seven-year period.

"We sincerely thank the Spanish Ministry of Defense for its confidence in our vehicle platform, our engineering, and industrial capabilities," said Juan Escriña, GDELS Vice President for Tracked Vehicles & Artillery and Managing Director of GDELS-Santa Bárbara Sistemas. "As a reliable partner, GDELS-Santa Bárbara Sistemas is truly proud to help the Spanish Army protect Spanish soldiers and improve its strategic mobility with state-of-the-art 8x8 wheeled combat vehicles," Escriña adds.

The GDELS-SBS joint venture (JV) will manufacture the 8x8 VCR at GDELS sites in Trubia and Seville, Spain, with the collaboration of the other Spanish JV members. The JV members include GDELS-Santa Bárbara Sistemas, Indra Sistemas, Sapa Placencia, and Escribano Mechanical & Engineering. The Spanish Ministry of Defense mandated a National Industrial plan in which Spanish industry participation must be no less than 70% of the total program. The JV was established to ensure that all operational objectives and needs of the Spanish Army and the Spanish Ministry of Defense are fully met and to fulfill the requirements of the government's industrial plan.

GDELS-Santa Bárbara Sistemas program participation will involve approximately 650 direct and 1,100 indirect employees.

About the PIRANHA 5
The PIRANHA 5 is one of the most advanced and capable 8x8 wheeled armored vehicles and the top end of the PIRANHA vehicle family. In addition to its high level of protection, the PIRANHA 5 has a flexible and spacious crew compartment and significant payload capacity. The vehicle's inherent growth potential ensures the ability for future upgrades and technology insertion over the vehicle's lifetime. In terms of mobility and maneuverability, the PIRANHA 5, with its efficient all-wheel drive, hydro-pneumatic suspension, and 4th axle steering, sets the top standard in this vehicle class. The PIRANHA family of vehicles is the most successful wheeled armored vehicle family - more than 11,500 PIRANHAs are in service worldwide.

About GDELS
General Dynamics European Land Systems, headquartered in Madrid, Spain, is a business unit of General Dynamics (NYSE: GD) and conducts its business through five European operating sites located in Austria, Czech Republic, Germany, Spain, and Switzerland. With approximately 2,200 highly skilled technical employees, the companies design, manufacture, and deliver world-class land combat systems, including wheeled, tracked, and amphibious vehicles, bridge systems, and armaments, to global customers. More information http://www.gdels.com.

SOURCE General Dynamics European Land Systems

[Norton1973]

Thanks! Been a busy day. $GD$

[ProfitScout]

GENERAL DYNAMICS TO WEBCAST 2020 SECOND-QUARTER FINANCIAL RESULTS CONFERENCE CALL

RESTON, Va., July 8, 2020 /PRNewswire/ -- General Dynamics (NYSE: GD) will webcast its second-quarter 2020 financial results conference call on Wednesday, July 29, 2020, beginning at 9 a.m. EDT.

The live webcast of the conference call will be available at www.gd.com. A replay will be available shortly after the live presentation.

More information about General Dynamics is available at http://www.gd.com.

[Norton1973]

I am so elated with owning GD, General Dynamics Corp.

[Norton1973]

GD, General Dynamics, so sweet, when most Companies are suspending Dividends.

[ProfitScout]

GENERAL DYNAMICS BOARD DECLARES DIVIDEND

RESTON, Va., June 3, 2020 /PRNewswire/ -- The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of $1.10 per share on the company's common stock, payable August 7, 2020, to shareholders of record on July 3, 2020.

General Dynamics, headquartered in Reston, Virginia, is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions; and shipbuilding and ship repair. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2019.

More information is available at http://www.gd.com.

General Dynamics

[Norton1973]

GD, great gainer, today. Enjoy owning this stock.

[ProfitScout]

GENERAL DYNAMICS AWARDED STATE DEPARTMENT IT SERVICES CONTRACT

GDIT support to the Bureau of International Narcotics and Law Enforcement Affairs will help strengthen international counter-narcotic and crime-fighting capabilities across the Western Hemisphere

FAIRFAX, Va., May 7, 2020 /PRNewswire/ -- General Dynamics Information Technology (GDIT) today announced it was awarded a new contract by the U.S. Department of State (DOS) Bureau of International Narcotics and Law Enforcement Affairs (INL) to support its Western Hemisphere Program (WHP). In partnership with INL WHP, GDIT will strengthen international counter-narcotic, anti-crime and foreign partner law enforcement capabilities. The indefinite delivery indefinite quantity (IDIQ) contract holds an estimated value of $350 million and includes a base period of one year with four 12-month options.

"GDIT's work with the INL will deliver new technical capabilities to counter-narcotics trafficking, money laundering and other transnational criminal activities," said Senior Vice President Paul Nedzbala for GDIT's Federal Civilian Division. "Our solution will directly support INL's critical mission to minimize the impact of international crime and illegal drugs, protecting both U.S. citizens at home and our partners abroad."

Through this contract, GDIT will deliver IT services designed to enhance INL's counter-narcotic and anti-crime interdiction capabilities, increase DOS capacity to deploy new technology, improve information sharing among partners and regions, and expand the law enforcement capability of foreign government partners. GDIT has been a mission-integrated partner with the State Department for more than 20 years. This award expands GDIT's DOS presence within INL.

GDIT is a business unit of General Dynamics (NYSE: GD). More information about GDIT is available at http://www.gdit.com.


SOURCE General Dynamics Information Technology

News Provided by PR Newswire via QuoteMedia

[Doubledown22]

I just don't get this stock. The company has BILLIONS in backlogged orders to fulfill so a constant major revenue stream is all but guaranteed but yet this POS trades down consistently almost every day since February. The exception being when it bounced off the March panic selling lows that all the other companies experienced as well.

The market seems to reallllly dislike this stock even though the balance sheet looks pretty good. What am I missing??

DD22