General Dynamics Forecasts 2013 Profit Short of Estimates
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General Dynamics Corp. forecast a 2013 profit short of analysts’ estimates and reported a $2.1 billion fourth-quarter loss that the company attributed to ill-advised acquisitions and to declining defense spending.
For 2013, profit will be $6.60 to $6.70 a share, the company said. The average estimate of 21 analysts surveyed by Bloomberg was for a profit of $7.32 a share on sales of $32.1 billion.