General Dynamics Mission Systems, SATCOM Division Posts Modest 4Q Gains
General Dynamics Mission Systems division, which includes the General Dynamics SATCOM Technologies business, reported $1.3 billion in Fourth Quarter (4Q) revenue, a 2.5% increase from the same three-month period ending in December last year. The division also posted a full-year 4.5% increase in revenue from 2018.
During the quarter, General Dynamics SATCOM won a contract from the U.S. Navy with a maximum potential value of $730 million to modernize ground stations for satellite communications systems.
Mission Systems’ 4Q 2019 operating earnings increased 3.9% from 4Q 2018 to $188 million. Operating margin was 14.7% for the quarter, up 20 basis points from the year-ago quarter, and 13.8% for the year. The division’s 2019 book-to-bill ratio was 1-to-1 for the year, resulting in a backlog of $5.4 billion.
General Dynamics posted company-wide 4Q 2019 net earnings of $1 billion, up 12.2% from 4Q 2018.
“Our fourth-quarter and full-year performance, coupled with strong order intake, leaves us well positioned to create enduring value,” General Dynamics Chairman and CEO Phebe Novakovic said in a statement.