WASHINGTON Jan 22 General Dynamics Corp
Chief Executive Phebe Novakovic forecast a slight drop in
earnings per share and revenue for 2014 on Wednesday, but said
the company would aggressively return cash to shareholders
through share buybacks and dividends.
Novakovic forecast an 11 percent increase in aerospace
revenue, but said sales would likely decline in combat systems
and the information systems businesses.
Overall, she forecast revenue of $30 billion in 2014, down
from $31.2 billion in 2013. Earnings per share would be around
$6.80-6.85, down slightly from $7.03 per share in 2013, and the
company would likely adjust its guidance after share buybacks in
the first quarter, she said.
Novakovic said the company planned to repurchase 11.4
million shares in the first quarter after taking a pause due to
pension rules in the fourth quarter of 2013. She said General
Dynamics would seek authority for more repurchases at its
February board meeting.