Boeing Profit Rebounds, Revenue Jumps 42 Percent

Boeing Profit Rebounds, Revenue Jumps 42 Percent

Boeing earned fourth-quarter profit of $1.3 billion on revenue that jumped 42 percent to $17.9 billion. Results compare with a loss of $86 million a year ago, when the company faced a prolonged strike and took a charge on production delays in the 747 program.

The aircraft manufacturer announced earnings guidance for 2010 as $3.70 to $4.00 per share, reflecting slower production of the 777, reduced military contracts and expected market risks due to low demand in the commercial airline market.

"We put a strong finish on 2009 by getting the 787 in the air and generating solid core operating performance across the company," said Jim McNerney, Boeing chairman, president and chief executive officer. "Focus areas for 2010 are to continue our strong operational performance, certify and deliver the 787 and 747-8, and further reposition our defense, space and security business.”

Contact Thomas L. Gallagher at tgallagher@joc.com.