spacetoday.net: Boeing space unit reports losses for quarter, year

Posted: Fri, Jan 30, 2004, 10:38 AM ET (1538 GMT)
Boeing

The space unit of The Boeing Company reported Thursday a loss for its fiscal fourth quarter as well as for all of 2003. The Launch and Orbital Systems unit of Boeing’s Integrated Defense Systems reported a fourth-quarter loss of $94 million on revenues of $604 million, compared to a $56-million loss in the same quarter of 2002, on revenues of $668 million. For all of 2003 the unit recorded a loss of nearly $1.8 billion on $3.0 billion in revenue, compared to a loss of $182 million on $2.8 billion in revenues for 2002. Most of the 2003 loss was from a billion-dollar charge the company took in the second quarter to cover a weak market for its Delta 4 launch vehicles and commercial satellites. Overall Boeing reported net income of $700 million for 2003 on $50.5 billion in revenues.