General Dynamics (GD) Unit Wins $47M U.S. Navy Contract

General Dynamics Corporation’s (NYSE:GD) business unit, General Dynamics Information Technology, has won a contract from the U.S. Navy to provide information technology services and support for security aid to the Naval Supply Systems Command Weapon Systems Support (“NAVSUP WSS”) and Navy International Programs Office.

The contract is worth $46.7 million and will run through a period of 48 months.

Per the contract, General Dynamics will provide support for the project’s financial and logistical analysis and management, IT services, international training and educational programs and cooperative programs. Work will be performed in Philadelphia, WA; Pensacola, FL; and Dayton, OH.

According to Rich Farinacci, vice president and general manager of Professional Services and Training Solutions sector of General Dynamics Information Technology, the company is a pioneer provider of adaptive, integrated joint and coalition war fighting support services. Farinacci added, "Our highly experienced team understands NAVSUP WSS' challenges and will identify, demonstrate, assess and integrate current and new technologies to meet vital Navy requirements."

We note that General Dynamics engages in developing mission-critical information systems and technologies; land and expeditionary combat vehicles, armaments and munitions; shipbuilding and marine systems; and business aviation. The company’s revenues are derived from a broad portfolio of products and services that help to keep its overall growth momentum steady.

Over the years, General Dynamics has maintained a longstanding strategic alliance with the U.S. defense department and tries to meet its commitments in terms of maintaining product and service standards as well as delivery timing.

General Dynamics currently has a Zacks Rank #3 (Hold).

Stocks to Consider

Some better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. (NYSE:EGL) , BAE Systems (LON:BAES) plc (OTC:BAESY) and CAE Inc. (TO:CAE) , each carrying a Zacks Rank #2 (Buy).


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