Earning Plays

[3xBuBu]

Boeing posts record earnings in 2007
The Boeing Co. set a company record in 2007 posting $4.1 billion in profit with $3.4 billion of those earnings coming from its St. Louis-based Integrated Defense Systems (IDS) unit, Boeing reported Wednesday.

Boeing attributed its 84 percent increase in profit during 2007 to higher commercial airplane deliveries, strong growth in defense earnings and companywide productivity improvements. For the year ended Dec. 31, Boeing's profit went from $2.2 billion, or $2.85 per share, in 2006 to $4.1 billion, or $5.28 per share.

Despite its earnings falling by 5 percent during the fourth quarter to $978 million, Boeing's IDS unit posted a 13 percent increase in profit for the entire year jumping from $3.03 billion in 2006 to $3.44 billion in 2007.

For the fourth quarter ended Dec. 31, Boeing's profit increased 4 percent from $989 million, or $1.29 per share, during the prior year to $1.03 billion, or $1.36 per share, in 2007.

Boeing reported $66.4 billion in revenue during 2007, an 8 percent increase from sales of $61.5 billion in 2006. Sales for the fourth quarter remained unchanged from sales of $17.5 billion during the fourth quarter of 2006.

IDS was able to post a 13 percent increase in profit for the year despite its sales dropping slightly from $32.4 billion to $32.1 billion. For the fourth quarter, sales dropped 14 percent from $9.7 billion to $8.4 billion.

During 2007, IDS won nine out of 11 significant competitions, according to Boeing. Its backlog at the end of the fourth quarter grew to $71.7 billion reflecting new orders that exceeded current-period revenues.

A unit of Chicago-based Boeing Co. (NYSE: BA), Integrated Defense Systems is one of the world's largest space and defense businesses specializing in innovative and capabilities-driven customer solutions. Headquartered in St. Louis, Integrated Defense Systems is a $32.1 billion business with 72,000 employees worldwide.
http://washington.bizjournals.com/stlouis/stories/2008/01/28/daily36.html