General Dynamics EPS Climbs To $1.91 (GD)

Falls Church, Virginia-based General Dynamics Corporation GD released financial results on Wednesday morning that beat Wall Street earnings estimates. General Dynamics Corporation announced that its 4th quarter earnings from continuing operations climbed to $729 million, or $1.91 per share, up from $618 million, or $1.58 per share, a year earlier. General Dynamics Corporation reported revenue of $8.6 billion, up 8.9% from $7.9 billion a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.85 per share, on revenue of $8.92 billion. Chairman and chief executive officer Jay L. Johnson said, "2010 was a good year for General Dynamics, marked by outstanding earnings growth, efficient cash conversion and focused execution across the company. Our businesses are well-positioned as we continue to provide mission-essential capabilities to our defense customers and capitalize on accelerating global business-jet demand." General Dynamics Corporation (GD) finished the previous trading day at $74.17 per share. The consensus price target of analysts covering the company's stock is $80.41 per share. General Dynamics Corporation is a market leader in business aviation; land and expeditionary combat vehicles and systems, armaments, and munitions; shipbuilding and marine systems; and mission-critical information systems and technologies. The company has four main business segments: Aerospace, Combat Systems, Marine Systems designs and Information Systems and Technology. Read more from Benzinga's Company news.