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News Breaks
March 5, 2014
10:01 EDTGDGeneral Dynamics awarded $36M for submarine work
General Dynamics Electric Boat has been awarded two contract modifications from the U.S. Navy worth a total value of $35.8M. Electric Boat is a wholly owned subsidiary of General Dynamics. Under the first contract, valued at $19.8M, Electric Boat will perform advanced submarine research and development studies in support of a wide range of technology areas including manufacturability, maintainability, survivability, hydrodynamics, acoustics and materials. The company will also conduct research and development work in manning, hull integrity, performance, ship control, logistics, weapons handling and safety. The contract supports near-term Virginia-class technology insertion, future submarine concepts and core technologies. Initially awarded in November 2010, the contract has a potential value of $710.6M over five years. For the second contract, valued at $16M, Electric Boat will continue development of the Common Missile Compartment for the U.S. Ohio replacement submarine. The company will procure missile tube long-lead-time material and design and manufacture hardware. Initially awarded in December 2012, the five-year, $1.85B contract calls for Electric Boat to perform research and development work for the Navy's next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. The potential value of the overall contract is $2.3B.
News For GD From The Last 14 Days
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January 30, 2015
17:24 EDTGDGeneral Dynamics, Medico Industries awarded $301.64M government contract
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January 28, 2015
09:32 EDTGDGeneral Dynamics expects to see growth in Combat and margin expansion
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09:29 EDTGDGeneral Dynamics 'pretty comfortable' it can hit its revenue guidance
The company cites more stability from Department of Justice orders.
09:24 EDTGDGeneral Dynamics sees FY15 revenue $31.3B-$31.5B, consensus $31.16B
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09:24 EDTGDGeneral Dynamics: 1Q15 and 2Q15 EPS to be light by about 10c
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09:17 EDTGDGeneral Dynamics says expected revenue decline in 2014 to be delayed into 2015
Expects revenue growth to resume in 2016 and 2017. Expects FY15 Aerospace revenue up 8.3%. Sees FY15 Combat Systems revenue and earnings to be flat with growth resuming in 2016. Sees FY15 Marine Group revenue growth of 2%-2.5%. Sees FY15 IS&T revenue to decline about 5.5%, but with an improved margin rate. Expects to use all free cash flow for dividend and share repurchases. It does not expect a robust year for cash flow, but intends to treat cash flow for dividend and share repurchases on a normalized basis. Sees FY15 net interest expense of $82M.
09:14 EDTGDGeneral Dynamics sees FY15 EPS $8.05-$8.10, consensus $8.38
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07:01 EDTGDGeneral Dynamics reports backlog was $72.4B at end of 2014
The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity contracts and unexercised options, was $26.7B. Total potential contract value, the sum of all backlog components, was $99.1B at the end of the year.
07:01 EDTGDGeneral Dynamics reports Q4 EPS $2.19, consensus $2.13
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January 27, 2015
15:35 EDTGDNotable companies reporting before tomorrow's open
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15:13 EDTGDGeneral Dynamics technical comments ahead of earnings
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