Exhibit 99.1

2941 Fairview Park Drive Suite 100 Falls Church, VA 22042-4513 www.generaldynamics.com	News
	October 23, 2013 Contact: Rob Doolittle Tel: 703 876 3199 rdoolittle@generaldynamics.com

General Dynamics Reports Third-Quarter 2013 Results

• Diluted EPS increases 8.2 percent over third-quarter 2012

• Operating margins grow to 12.3 percent

FALLS CHURCH, Va. – General Dynamics (NYSE: GD) today reported third-quarter 2013 net earnings of $651 million, or $1.84 per share on a diluted basis, on revenues of $7.8 billion. This compares to 2012 third-quarter net earnings of $600 million, or $1.70 per diluted share, on revenues of $7.9 billion. Third-quarter 2013 operating earnings rose $52 million to $957 million, a 5.7 percent increase over the year-ago quarter.

Margins

Company-wide operating margins for the third quarter of 2013 were 12.3 percent, 90 basis points higher than third-quarter 2012 margins, reflecting operating-performance improvement in the company’s Aerospace, Combat Systems and Information Systems and Technology groups over the year-ago period. Marine Systems’ margins remained steady from second quarter to third quarter 2013 on the strength of current program performance, although they declined as expected from the year-ago period due to the completion of the long-running T-AKE program.

Cash

Net cash provided by operating activities in third-quarter 2013 totaled $467 million. Free cash flow from operations, defined as net cash provided by operating activities less capital expenditures, was $364 million in the quarter.

Capital Deployment

The company repurchased 1.6 million shares of outstanding common stock in the third quarter. Year-to-date, the company has repurchased 9.2 million shares. At its October meeting the company’s board of directors authorized management to repurchase up to 10 million additional shares.

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Backlog

Total backlog at the end of third-quarter 2013 was $47.9 billion, and the estimated potential contract value was an additional $27.4 billion, representing management’s estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options. Total potential contract value, the sum of all backlog components, was $75.4 billion at the end of the quarter.

Significant awards received in the quarter include $200 million to continue production and support of double-V-hulled Stryker combat vehicles for the U.S. Army, $150 million for continued production of Abrams tanks for a foreign customer and $140 million for equipment and services in support of the Army’s Warfighter Information Network-Tactical (WIN-T). Marine Systems was contracted to design and manufacture two commercial product carriers, and received a $280 million award for repair and maintenance of U.S. Navy LHA- and LHD-class ships.

“General Dynamics performed well in the third quarter, reflecting our focus on the basics of operational excellence,” said Phebe N. Novakovic, chairman and chief executive officer. “We remain committed to creating value by meeting our obligations to our customers while continuously improving the way we do business.”

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 95,700 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.

Certain statements made in this press release, including any statements as to future results of operations and financial projections, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the company’s filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.

All forward-looking statements speak only as of the date they were made. The company does not undertake any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

WEBCAST INFORMATION: General Dynamics will webcast its third-quarter securities analyst conference call at 9 a.m. EDT on Wednesday, October 23, 2013. The webcast will be a listen-only audio event, available at www.generaldynamics.com. An on-demand replay of the webcast will be available by 12 p.m. on October 23 and will continue for 12 months. To hear a recording of the conference call by telephone, please call 888-286-8010 (international: 617-801-6888); passcode 69201108. The phone replay will be available from 1 p.m. October 23 through October 30, 2013.

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EXHIBIT A

CONSOLIDATED STATEMENTS OF EARNINGS - (UNAUDITED)

DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS

	Third Quarter						Variance
	2012			2013			$			%
Revenues	$	7,934		$	7,796		$	(138	)		(1.7	)%
Operating costs and expenses		7,029			6,839			190
Operating earnings		905			957			52			5.7	%
Interest, net		(39	)		(22	)		17
Other, net		(3	)		5			8
Earnings before income taxes		863			940			77			8.9	%
Provision for income taxes		263			289			(26	)
Net earnings	$	600		$	651		$	51			8.5	%
Earnings per share—basic	$	1.71		$	1.86		$	0.15			8.8	%
Basic weighted average shares outstanding		350.5			349.3
Earnings per share—diluted	$	1.70		$	1.84		$	0.14			8.2	%
Diluted weighted average shares outstanding		352.8			352.9

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EXHIBIT B

CONSOLIDATED STATEMENTS OF EARNINGS - (UNAUDITED)

DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS

	Nine Months						Variance
	2012			2013			$			%
Revenues	$	23,435		$	23,111		$	(324	)		(1.4	)%
Operating costs and expenses		20,700			20,347			353
Operating earnings		2,735			2,764			29			1.1	%
Interest, net		(115	)		(63	)		52
Other, net		(8	)		6			14
Earnings before income taxes		2,612			2,707			95			3.6	%
Provision for income taxes		814			845			(31	)
Net earnings	$	1,798		$	1,862		$	64			3.6	%
Earnings per share—basic	$	5.08		$	5.31		$	0.23			4.5	%
Basic weighted average shares outstanding		354.2			350.8
Earnings per share—diluted	$	5.04		$	5.27		$	0.23			4.6	%
Diluted weighted average shares outstanding		356.5			353.1

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EXHIBIT C

REVENUES AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)

DOLLARS IN MILLIONS

	Third Quarter						Variance
	2012			2013			$			%
Revenues:
Aerospace	$	1,836		$	2,152		$	316			17.2	%
Combat Systems		1,956			1,367			(589	)		(30.1	)%
Marine Systems		1,670			1,697			27			1.6	%
Information Systems and Technology		2,472			2,580			108			4.4	%
Total	$	7,934		$	7,796		$	(138	)		(1.7	)%
Operating earnings:
Aerospace	$	261		$	369		$	108			41.4	%
Combat Systems		274			224			(50	)		(18.2	)%
Marine Systems		186			170			(16	)		(8.6	)%
Information Systems and Technology		201			216			15			7.5	%
Corporate		(17	)		(22	)		(5	)		(29.4	)%
Total	$	905		$	957		$	52			5.7	%
Operating margins:
Aerospace		14.2	%		17.1	%
Combat Systems		14.0	%		16.4	%
Marine Systems		11.1	%		10.0	%
Information Systems and Technology		8.1	%		8.4	%
Total		11.4	%		12.3	%

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EXHIBIT D

REVENUES AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)

DOLLARS IN MILLIONS

	Nine Months						Variance
	2012			2013			$			%
Revenues:
Aerospace	$	5,051		$	5,983		$	932			18.5	%
Combat Systems		6,016			4,469			(1,547	)		(25.7	)%
Marine Systems		4,928			5,082			154			3.1	%
Information Systems and Technology		7,440			7,577			137			1.8	%
Total	$	23,435		$	23,111		$	(324	)		(1.4	)%
Operating earnings:
Aerospace	$	789		$	1,068		$	279			35.4	%
Combat Systems		799			657			(142	)		(17.8	)%
Marine Systems		554			507			(47	)		(8.5	)%
Information Systems and Technology		645			599			(46	)		(7.1	)%
Corporate		(52	)		(67	)		(15	)		(28.8	)%
Total	$	2,735		$	2,764		$	29			1.1	%
Operating margins:
Aerospace		15.6	%		17.9	%
Combat Systems		13.3	%		14.7	%
Marine Systems		11.2	%		10.0	%
Information Systems and Technology		8.7	%		7.9	%
Total		11.7	%		12.0	%

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EXHIBIT E

PRELIMINARY CONSOLIDATED BALANCE SHEETS

DOLLARS IN MILLIONS

	December 31, 2012			(Unaudited) September 29, 2013
ASSETS
Current assets:
Cash and equivalents	$	3,296		$	4,065
Accounts receivable		4,204			4,365
Contracts in process		4,964			5,113
Inventories		2,776			2,986
Other current assets		504			589
Total current assets		15,744			17,118
Noncurrent assets:
Property, plant and equipment, net		3,403			3,365
Intangible assets, net		1,383			1,248
Goodwill		12,048			12,008
Other assets		1,731			1,732
Total noncurrent assets		18,565			18,353
Total assets	$	34,309		$	35,471
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	2,469		$	2,443
Customer advances and deposits		6,042			6,266
Other current liabilities		3,109			3,356
Total current liabilities		11,620			12,065
Noncurrent liabilities:
Long-term debt		3,908			3,908
Other liabilities		7,391			6,893
Total noncurrent liabilities		11,299			10,801
Shareholders’ equity:
Common stock		482			482
Surplus		1,988			2,161
Retained earnings		17,860			19,131
Treasury stock		(6,165	)		(6,500	)
Accumulated other comprehensive loss		(2,775	)		(2,669	)
Total shareholders’ equity		11,390			12,605
Total liabilities and shareholders’ equity	$	34,309		$	35,471

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EXHIBIT F

PRELIMINARY CONSOLIDATED STATEMENTS OF CASH FLOWS - (UNAUDITED)

DOLLARS IN MILLIONS

	Nine Months Ended
	September 30, 2012			September 29, 2013
Cash flows from operating activities:
Net earnings	$	1,798		$	1,862
Adjustments to reconcile net earnings to net cash provided by operating activities -
Depreciation of property, plant and equipment		286			288
Amortization of intangible assets		172			127
Stock-based compensation expense		104			90
Excess tax benefit from stock-based compensation		(24	)		(19	)
Deferred income tax provision		53			47
(Increase) decrease in assets, net of effects of business acquisitions -
Accounts receivable		139			(166	)
Contracts in process		91			(119	)
Inventories		(340	)		(218	)
Increase (decrease) in liabilities, net of effects of business acquisitions -
Accounts payable		(368	)		(26	)
Customer advances and deposits		257			16
Other current liabilities		(105	)		(167	)
Other, net		(156	)		(165	)
Net cash provided by operating activities		1,907			1,550
Cash flows from investing activities:
Capital expenditures		(286	)		(271	)
Business acquisitions, net of cash acquired		(426	)		(1	)
Other, net		44			56
Net cash used by investing activities		(668	)		(216	)
Cash flows from financing activities:
Purchases of common stock		(602	)		(696	)
Proceeds from option exercises		121			484
Dividends paid		(533	)		(394	)
Other, net		2			46
Net cash used by financing activities		(1,012	)		(560	)
Net cash used by discontinued operations		(2	)		(5	)
Net increase in cash and equivalents		225			769
Cash and equivalents at beginning of period		2,649			3,296
Cash and equivalents at end of period	$	2,874		$	4,065

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EXHIBIT G

PRELIMINARY FINANCIAL INFORMATION - (UNAUDITED)

DOLLARS IN MILLIONS EXCEPT PER SHARE AND EMPLOYEE AMOUNTS

	Third Quarter			Third Quarter
	2012			2013
Other Financial Information:
Debt-to-equity (a)		27.5	%		31.2	%
Debt-to-capital (b)		21.6	%		23.8	%
Book value per share (c)	$	40.42		$	35.79
Total taxes paid	$	299		$	245
Company-sponsored research and development (d)	$	149		$	116
Employment		93,700			95,700
Sales per employee (e)	$	346,900		$	340,000
Shares outstanding		353,069,806			352,198,231

Non-GAAP Financial Measures:

	Quarter			Year-to-date			Quarter			Year-to-date
Free cash flow from operations:
Net cash provided by operating activities	$	704		$	1,907		$	467		$	1,550
Capital expenditures		(110	)		(286	)		(103	)		(271	)
Free cash flow from operations (f)	$	594		$	1,621		$	364		$	1,279

(a) Debt-to-equity ratio is calculated as total debt divided by total equity as of the end of the period.

(b) Debt-to-capital ratio is calculated as total debt divided by the sum of total debt plus total equity as of the end of the period.

(c) Book value per share is calculated as total equity divided by total outstanding shares as of the end of the period.

(d) Includes independent research and development and bid and proposal costs and Gulfstream product-development costs.

(e) Sales per employee is calculated by dividing revenues for the latest 12-month period by our average number of employees during that period.

(f) We believe free cash flow from operations is a measurement that is useful to investors because it portrays our ability to generate cash from our core businesses for such purposes as repaying maturing debt, funding business acquisitions and paying dividends. We use free cash flow from operations to assess the quality of our earnings and as a performance measure in evaluating management. The most directly comparable GAAP measure to free cash flow from operations is net cash provided by operating activities.

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EXHIBIT H

BACKLOG - (UNAUDITED)

DOLLARS IN MILLIONS

	Funded		Unfunded		Total Backlog		Estimated Potential Contract Value*		Total Potential Contract Value
Third Quarter 2013
Aerospace	$	13,653	$	170	$	13,823	$	—	$	13,823
Combat Systems		6,164		954		7,118		3,622		10,740
Marine Systems		12,228		5,337		17,565		3,389		20,954
Information Systems and Technology		7,950		1,485		9,435		20,433		29,868
Total	$	39,995	$	7,946	$	47,941	$	27,444	$	75,385
Second Quarter 2013
Aerospace	$	14,480	$	183	$	14,663	$	—	$	14,663
Combat Systems		5,915		1,129		7,044		3,025		10,069
Marine Systems		12,771		5,149		17,920		3,900		21,820
Information Systems and Technology		7,943		1,856		9,799		20,788		30,587
Total	$	41,109	$	8,317	$	49,426	$	27,713	$	77,139
Third Quarter 2012
Aerospace	$	15,827	$	215	$	16,042	$	—	$	16,042
Combat Systems		8,259		1,101		9,360		2,627		11,987
Marine Systems		10,909		5,036		15,945		1,382		17,327
Information Systems and Technology		8,224		1,887		10,111		22,052		32,163
Total	$	43,219	$	8,239	$	51,458	$	26,061	$	77,519

* The estimated potential contract value represents management’s estimate of our future contract value under unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options associated with existing firm contracts, including options to purchase new aircraft and long-term agreements with fleet customers, as applicable. Because the value in the unfunded IDIQ arrangements is subject to the customer’s future exercise of an indeterminate quantity of orders, we recognize these contracts in backlog only when they are funded. Unexercised options are recognized in backlog when the customer exercises the option and establishes a firm order.

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EXHIBIT I

THIRD QUARTER 2013 SIGNIFICANT ORDERS (UNAUDITED)

DOLLARS IN MILLIONS

We received the following significant orders during the third quarter of 2013:

Combat Systems

• $200 from the U.S. Army under the Stryker wheeled armored vehicle program for the production of 66 double-V-hulled vehicles and for contractor logistics support.

• $185 from the Army for the production of Hydra-70 rockets and M2A1 machine gun barrel kits.

• $150 from the Army under a foreign military sales contract to convert Abrams tanks to the Saudi M1A2S configuration for the Kingdom of Saudi Arabia.

• $35 from the U.K. Ministry of Defence for the production of 24 Foxhound light tactical vehicles.

Marine Systems

• $280 from the U.S. Navy for repair and maintenance services on LHA- and LHD-class ships.

• $210 from the Navy for the design and construction of a steel deckhouse and hangar and construction of aft Peripheral Vertical Launching System (PVLS) modules on the third DDG-1000 destroyer.

• $55 from the Navy for moored training ship platforms.

• The design and construction of two product carriers from Seabulk Tankers, Inc.

Information Systems and Technology

• $140 from the Army under the Warfighter Information Network-Tactical (WIN-T) program for equipment and support services.

• $90 from the Army for ruggedized computing equipment under the Common Hardware Systems-4 (CHS-4) program.

• $75 from the U.S. Department of State to provide supply chain management services.

• $65 for the Army’s Warfighter Field Operations Customer Support (FOCUS) program to provide support for live, virtual and constructive training operations.

• One of 17 awards to provide cyber security services to the U.S. Department of Homeland Security and other government agencies through a General Services Administration blanket purchase agreement. The agreement has a maximum potential value of $6 billion over five years among all awardees.

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EXHIBIT J

AEROSPACE SUPPLEMENTAL DATA - (UNAUDITED)

	Third Quarter				Nine Months
	2012		2013		2012		2013
Gulfstream Green Deliveries (units):
Large aircraft		28		28		78		83
Mid-size aircraft		6		6		10		16
Total		34		34		88		99
Gulfstream Outfitted Deliveries (units):
Large aircraft		17		32		52		87
Mid-size aircraft		—		6		5		16
Total		17		38		57		103
Pre-owned Deliveries (units):		1		4		1		9

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