General Dynamics (GD)

General Dynamics Corporation (NYSE:GD) engages in mission-critical information systems and technologies land and expeditionary combat vehicles, armaments and munitions shipbuilding and marine systems and business aviation. The company operates through four segments: Information Systems & Technology (IS&T 35% of 2008: Q2 revenue), Combat Systems (28%), Marine Systems (19%), and Aerospace (18%). The IS&T group integrates secure communication systems and networks, as well as command, control and intelligence systems. Combat Systems manufactures combat vehicles, medium-caliber guns, ammunition and ammunition handling systems. Marine Systems makes nuclear submarines, surface combatants, and auxiliary ships. Aerospace consists of Gulfstream Aerospace, which manufactures business jets, and General Dynamics Aviation Services, which provides aircraft maintenance and spare parts. General Dynamics' use of leading-edge technology in providing customers high-quality products has helped the company to establish itself as a significant player in the industry. The U.S. government is GD's largest customer accounting for 69% of sales in 2007. While U.S. commercial customers accounted for 14%, among others direct sales to international defense customers accounted for 10% and the remaining 7% of sales were to international commercial customers. In June 2006, General Dynamics acquired Anteon International Corporation (NYSE: ANT) in a transaction valued at approximately $2.2 billion including the assumption of debt. In January 2007, General Dynamics acquired SNC Technologies Inc. for approximately $275 million. In November of 2007, General Dynamics acquired the privately-held Australian company Mediaware International Pty Ltd. The Sydney-based company is a developer of real-time full-motion compressed digital video processing software and systems for defense, intelligence and commercial customers. Lastly, in July 2008, the company acquired Towson-Maryland based ViPS, Inc. from HLTH Corporation (NASDAQ: HLTH). ViPS is a leading provider of high-end healthcare technology solutions, including data management, analytics, decision support, and process automation that support both U.S. federal government agencies and commercial healthcare organizations.

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