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
|
|
Blue Origin describes plans for increased New Glenn launch rates
Posted: Sat, Oct 17 11:41 AM ET (1541 GMT) |
|
news links
|
|
Tuesday, October 20
A Mars-velous decade: Celebrating ten years of TGO
ESA — 5:27 am ET (0927 GMT) How US Satellites Became Crucial to Ukraine’s Defense
Bloomberg News — 5:26 am ET (0926 GMT) How to stop Putin’s missiles before they even leave Russia
Washington Post — 5:25 am ET (0925 GMT) Fire at Starlink Center in Lithuania Was Sabotage, Officials Say
New York Times — 5:25 am ET (0925 GMT) Space Forces Central Poised for ‘Fivefold’ Growth in Coming Years
Air and Space Forces Magazine — 5:22 am ET (0922 GMT) |
