Boeing to take billion-dollar charge
Posted: Fri, Apr 11, 2003, 9:53 AM ET (1353 GMT)
The Boeing Company announced late Thursday that it will take a charge of $1.2 billion in the fiscal first quarter to account for a "severe downturn" in the commercial aviation and space markets. About half of the planned charge, $590 million, is associated with the Launch and Orbital Systems segment of Boeing's Integrated Defense Systems. The writeoff is an "impairment of goodwill", or a reflection that Boeing overpaid for several commercial space companies, including McDonnell Douglas and Hughes Space and Communications, that Boeing acquired in the mid to late 1990s. Boeing plans to release additional details when it announces its first quarter results on April 23.
The Boeing Company announced late Thursday that it will take a charge of $1.2 billion in the fiscal first quarter to account for a "severe downturn" in the commercial aviation and space markets. About half of the planned charge, $590 million, is associated with the Launch and Orbital Systems segment of Boeing's Integrated Defense Systems. The writeoff is an "impairment of goodwill", or a reflection that Boeing overpaid for several commercial space companies, including McDonnell Douglas and Hughes Space and Communications, that Boeing acquired in the mid to late 1990s. Boeing plans to release additional details when it announces its first quarter results on April 23.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Sunday, April 20
Space ISAC Announces UK Global Hub During 40th Annual Space Symposium
Space ISAC — 11:22 am ET (1522 GMT) Outpost Awarded DAF Contract for the AFRL Rocket Cargo Vanguard Program to Advance Deployable Heat Shield Technology for Shipping Container Size Deliveries from Space
Business Wire — 11:18 am ET (1518 GMT) With NASA's Webb, Dying Star's Energetic Display Comes Into Full Focus
STScI — 11:16 am ET (1516 GMT) AIAA Statement on Blue Origin’s Successful NS-31 Mission
AIAA — 11:13 am ET (1513 GMT) Evidence of Dark Matter-Free Dwarf Galaxy Challenges Conventional Galaxy Formation Models
Keck Observatory — 11:13 am ET (1513 GMT) |
