spacetoday.net: Boeing space unit reports earnings increase

Boeing space unit reports earnings increase

Posted: Thu, Apr 24, 2008, 5:29 AM ET (0929 GMT)
The division of Boeing that includes the company's space programs reported an increase in earnings despite a slight decline in revenue in the first quarter of 2008, the company reported Wednesday. Boeing's Network and Space Systems unit, part of its Integrated Defense Systems division, reported revenues of $2.693 billion in the first quarter of 2008, down from the $2.778 billion reported in the same quarter of 2007. However, the unit had earnings of $267 million in the quarter, up from $148 million in first quarter of 2007. The company credited the increase on strong performance across the board as well as a "favorable settlement" on an unspecified satellite program.