Boeing loses $56 Million in fourth quarter

Thursday, 29 January 2009, 02:36 Hrs
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Chicago: Boeing Co lost $56 million or eight cents per share in the fourth quarter, the company announced Wednesday.

The revenues for the quarter declined by 27 percent to $12.7 billion as a result of the worker's strike that reduced commercial airplane deliveries by approximately 70 units and revenues by about $4.3 billion, the company said in its financial report released here.

In 2008, Boeing's net income fell by 34 percent to $2.7 billion and earnings per share was $3.71. The revenue fell eight percent to $60.9 billion.

The company's chairman Jim McNerney, however, said the company had maintained a strong performance across all production programmes, and kept its financial strength in the challenging economic times.

In view of the expectations for continued growth in commercial airplanes and integrated defence systems, the report anticipated its 2009 revenue guidance at $68-69 billion and earnings per share guidance for 2009 between $5.05 and $5.35.
Source: IANS
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