Reply #81: Boeing Boosts 4Q Profit on Plane Sales

[citizen snips]

CHICAGO (AP) -- Boeing Co. rode continued momentum from its commercial airplane business to a 4 percent increase in fourth-quarter profits Wednesday, topping Wall Street's expectations despite ongoing concerns over delays in its 787 Dreamliner program.

The world's second-largest commercial jet maker said it continues to address problems in assembling the first 787s and slightly reduced its estimate for both 2008 revenue and deliveries because of the previously announced glitches. It said it remains on the revised schedule announced earlier this month for the new plane, which has been pushed back three times and now isn't due to enter service until next year, but won't assess the impact of the delays on 2009 results until April.

The company characterized the outlook for its military contracting business and commercial airplane programs next year as "very strong," with strong earnings growth anticipated.

That helped lift Boeing shares, which had fallen 30 percent since last fall, by $2.82, or 3.5 percent, $83.78 in midday trading.

more...
http://biz.yahoo.com/ap/080130/earns_boeing.html