Posted: Thu, Apr 24, 2008, 6:29 AM ET (1029 GMT)
The division of Boeing that includes the company's space programs reported an increase in earnings despite a slight decline in revenue in the first quarter of 2008, the company reported Wednesday. Boeing's Network and Space Systems unit, part of its Integrated Defense Systems division, reported revenues of $2.693 billion in the first quarter of 2008, down from the $2.778 billion reported in the same quarter of 2007. However, the unit had earnings of $267 million in the quarter, up from $148 million in first quarter of 2007. The company credited the increase on strong performance across the board as well as a "favorable settlement" on an unspecified satellite program.

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•  Los Angeles Times article
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•  Wall Street Journal article (subscription required)
•  Reuters article
•  Boeing press release