US-based defence contractor Common Dynamics (GD) has reported its 2021 full-year income of $38.5bn, up 1.4% in comparison with final 12 months.

For the interval ending 31 December, the corporate’s internet earnings rose 2.8%, or $3.3bn, from final 12 months.

Diluted earnings per share elevated 5.0% to $11.55, in opposition to $11.00 final 12 months.

The corporate mentioned that internet money offered by working actions totalled $4.3bn, or 131% of internet its earnings.

Through the fourth quarter, GD’s internet earnings have been $952m, in comparison with $1.0bn in the identical interval final 12 months.

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The corporate’s EPS declined 2.9% to $3.39 from final 12 months.

Group income additionally declined 1.8% to $10.3bn, from $10.48bn in fourth quarter final 12 months.

The corporate’s aerospace phase noticed its backlog enhance by 40% from final 12 months, to $16.3bn.

The expansion is pushed by the order for Gulfstream, which is the very best it has been in additional than a decade, in keeping with GD.

GD’s marine methods, fight methods, and applied sciences additionally secured $1.1bn value of contracts for categorized clients.

The US Navy additionally awarded a $820m contract to offer ongoing lead yard providers for the Virginia-class submarine programme.

On the finish of 2021, the corporate’s complete estimated contract worth, which is the sum of all its backlog elements, was $127.5bn.

Common Dynamics chairman and chief government officer Phebe Novakovic mentioned: “Our continued give attention to working efficiency and defending the well being and security of our staff contributed to sturdy fourth-quarter and full-year outcomes.

“Moreover, beneficial money stream has enabled us to proceed decreasing debt, returning worth to shareholders and investing in future development.”

In October final 12 months, Common Dynamics reported a 1.6% rise in IT hiring exercise.

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