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Strike hurts Boeing revenues
Posted: Fri, Feb 3, 2006, 6:40 AM ET (1140 GMT)
Boeing A three-month strike that crippled the Delta launch vehicle program depressed Boeing's revenues for the fourth quarter, the company reported this week. Boeing's Launch and Orbital Systems division reported revenues of $548 million in the fourth quarter of 2005, down from $667 million in the same quarter of 2004. For all of 2005 the unit has revenues of $2.74 billion, down from $2.97 billion in 2004. The company said that the strike by workers involved with the assembly and launch of Delta boosters caused the decreased revenues; that strike ended Wednesday when workers ratified a new contract. Despite the decreased revenues the unit still reported earnings of $23 million for the fourth quarter and $780 million for the full year, compared to losses of $76 million and $342 million for the fourth quarter and full year of 2004.
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