Wednesday, April 22, 2009

Boeing Reports First-Quarter Earnings

Boeing Reports First-Quarter Earnings
April 22, 2009

First-quarter net income was $0.6 billion with earnings per share of $0.86 which includes the previously announced $0.38 per share reduction from revised twin-aisle commercial airplane production rates and lower price escalation forecasts

Revenue rose 3 percent to $16.5 billion on higher commercial airplane deliveries and higher volume in defense

Operating cash flow was $0.2 billion

Backlog at $339 billion – nearly five times current annual revenues
2009 earnings outlook reduced to reflect changes in commercial market; outlook for Integrated Defense Systems is reaffirmed on solid execution.

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