General Dynamics Beats

The defense contractor posts a 20% jump in net income.
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General Dynamics

(GD) - Get Report

Tuesday said fourth-quarter profit rose about 20%, driven by surging revenue at its information systems and technology unit.

The Virginia-based defense contractor posted net income of $336 million, or $1.66 a share, compared with $279 million, or $1.40 a share, a year ago. Revenue rose 17% to $5.2 billion, from $4.7 billion last year.

The consensus estimate was for net income of $330.3 million, or $1.63 a share, on revenue of $5.12 billion, according to Thomson First Call.

Revenue at its information systems and technology unit increased 26.6% to $1.86 billion. Sales at the combat systems unit rose 5.5% to 1.31 billion.

The company said free cash flow from operations was $709 million in the quarter.

General Dynamics expects 2005 EPS from continuing operations to increase 11% to 13%. Analysts expect EPS of $6.75.

Shares closed at $98.77 Tuesday.