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ULA cuts into Boeing space earnings
Posted: Fri, Feb 1, 2008, 6:21 AM ET (1121 GMT)
The formation of the United Launch Alliance (ULA) reduced Boeing's space-related revenues and earnings in 2007, the company reported this week. Boeing's Network and Space Systems unit reported earnings of $295 million on $2.89 billion in the fourth quarter of 2007, compared to earnings on $467 million on $3.41 billion in revenue for the same quarter of 2006. For the full year of 2007, the unit had earnings of $891 million on $11.7 billion in revenue, compared to $952 million in earnings on $11.9 billion in 2006. The company said the formation of ULA at the end of 2006 caused the drop in revenues and earnings, since the Delta program is no longer included in Boeing financial reports.
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