U.S. aerospace and defense corporation Boeing today reported income in the fourth quarter of 2012 was $978 million, plummeting 30 percent from $1.4 billion in the fourth quarter of 2011.
Revenue in the fourth quarter was $22.3 billion, rising 14 percent year-over-year from $19.6 billion, driven by increased commercial airplane deliveries.
For the full year of 2012, profit was $3.9 billion, falling 3 percent from $4.0 billion in 2011. Revenue rose 10 percent from $68.7 billion in 2011 to $81.7 billion in 2012.
The company also delivered more than 600 airplanes, said Jim McNerney, Boeing’s chairman, president and CEO, in a written statement.
“Our first order of business for 2013 is to resolve the battery issue on the 787 and return the airplanes safely to service with our customers,” McNerney said. “At the same time, we remain focused on our ongoing priorities of profitable ramp up in commercial airplane production; successful execution of our development programs; and continued growth in core, adjacent and international defense and space markets.”
Boeing predicts revenue in 2013 will be between $82 and $85 billion. The company expects to deliver between 635 and 645 airplanes, including more than 60 787 Dreamliners.