The following video is part of our "Motley Fool Conversations" series, in which industrials editor/analyst Brendan Byrnes and consumer goods editor/analyst Austin Smith discuss topics across the investing world.

General Dynamics (NYSE: GD) had a solid 2011, acquiring several companies and ramping up its Gulfstream jet segment to provide more diverse streams of revenue for the company. But what effect could defense cuts have on the company, and what should we expect from GD's earnings?

Brendan Byrnes and Austin Smith have no positions in the stocks mentioned above. The Motley Fool owns shares of General Dynamics, Lockheed Martin, and Northrop Grumman.  Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.