General Dynamics sees international sales increasing in 2014
WASHINGTON Jan 22 (Reuters) - General Dynamics Corp remains focused on improving its operating margins in 2014, and sees international sales growing to account for 30 percent of revenue, up from 25 percent in 2013, Chief Executive Phebe Novakovic said on Wednesday.
The company boosted operating margins to 11.8 percent in 2013 from 2.6 percent in 2012.
Novakovic told analysts on an earnings call that the company's Gulfstream business jets remained the primary growth engine for both earnings and revenue across the company, but other business areas were producing steady revenues and profit.
"Only two of our 11 businesses are in a significant down cycle," Novakovic said, citing the company's land systems and information systems business with the U.S. Army.
She said foreign sales were another strong driver, noting they would account for 30 percent of revenues in 2014.
"We don't make a lot of noise about our international sales, but we have year-over-year improved that percentage," she said.