Boeing’s Profit Up 17.5% for Year, 1.5% in Quarter
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Boeing Co. reported that its earnings rose 17.5% for all of 1986 and advanced 1.5% in the fourth quarter. For the full year, the Seattle company’s net income totaled $665 million, compared to $566 million in 1985.
The only higher annual earnings figure was 1984’s $757 million, but that included $397 million in extraordinary income from a tax change, company spokesman T. Craig Martin said.
Revenue for 1986 was up 19% to a record $16.3 billion from $13.6 billion the year before.
Based on current schedules, Boeing expects 1987 sales to be about $14.75 billion, down from 1986’s record $16.3 billion. Boeing said the drop is attributable primarily to reduced military and space-program revenue.
Commercial jet sales also are expected to be somewhat lower because of declining 747 deliveries.
The aerospace company said its fourth-quarter earnings rose to $191 million from $188 million in 1985. The 1986 quarterly figure includes an income tax credit of $19 million for research and development.
Fourth-quarter sales increased to $4.98 billion from $4.2 billion in the year-earlier quarter.
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