Boeing space unit reports 3rd-quarter loss
Posted: Fri, Oct 29, 2004, 8:46 AM ET (1246 GMT)
Boeing's space unit reported another loss in its fiscal third quarter, the company announced Wednesday. The Launch and Orbital Systems unit of Boeing Integrated Defense Systems had a loss of $153 million on $822 million in revenue for the quarter ending September 30, compared to a loss of $58 million on $959 million in revenue for the same quarter of 2003. The company blamed the continued soft commercial space markets, as well as cost growth in unspecified satellite programs, for the loss, which offset profitability in its NASA programs. The space unit was an exception to the overall good fiscal news for the company, which beat Wall Street expectations for the quarter and raised its forecast for full-year earnings.
Boeing's space unit reported another loss in its fiscal third quarter, the company announced Wednesday. The Launch and Orbital Systems unit of Boeing Integrated Defense Systems had a loss of $153 million on $822 million in revenue for the quarter ending September 30, compared to a loss of $58 million on $959 million in revenue for the same quarter of 2003. The company blamed the continued soft commercial space markets, as well as cost growth in unspecified satellite programs, for the loss, which offset profitability in its NASA programs. The space unit was an exception to the overall good fiscal news for the company, which beat Wall Street expectations for the quarter and raised its forecast for full-year earnings.
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