C4 Systems, a business unit of General Dynamics Corporation, has received a five-year, indefinite delivery, indefinite quantity contract from the U.S. Navy’s Space and Naval Warfare Systems Center, to support, maintain and add new capabilities to the Wideband Networking Waveform (“WNW’). The WNW Software In-Service Support contract has a maximum potential value of $64.5 million, if all options are exercised.
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General Dynamics C4 Systems will lay off about 500 employees in the next two weeks, the result of defense-budget cuts that are forcing the company to streamline, a spokeswoman said.
C4 Systems is a business unit of Falls Church, Va.-based General Dynamics Corp. The large defense contractor operates C4 facilities in 200 locations throughout Canada and the U.S., including Scottsdale and Tempe.
The reductions represent less than 5 percent of C4 Systems’ 10,000 employees, said company spokeswoman Fran Jacques, adding that layoffs are planned across the board and will include a large number of engineers.
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FALLS CHURCH, Va., April 27, 2011 — /PRNewswire/ — General Dynamics (NYSE: GD) today reported first-quarter 2011 earnings from continuing operations of $618 million, or $1.64 per share on a fully diluted basis, compared with 2010 first-quarter earnings from continuing operations of $599 million, or $1.54 per share fully diluted.
Revenues increased over the year-ago period to $7.8 billion. Net earnings for the first quarter of 2011 were $618 million, compared to $597 million in the first quarter of 2010.
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