spacetoday.net: Boeing profits rise

Boeing profits rise

Posted: Thu, Jul 26, 2007, 8:29 AM ET (1229 GMT)
Boeing

The division of The Boeing Company that incorporates its space ventures reported increased profits despite flat revenues, the company reported Wednesday. The Network and Space Systems division of Boeing Integrated Defense Systems had earnings of $256 million on $2.94 billion in revenues for the second quarter of 2007, compared to $108 million in earnings on $2.94 billion in revenues for the same quarter of 2006. The company said that a loss in revenues caused by the shift of Delta government launches to the United Launch Alliance was offset by other items, including a commercial Delta 2 launch in the second quarter. Boeing overall reported net income of $1.1 billion on $17.0 billion in revenues for the second quarter.