spacetoday.net: Boeing space unit reports steady revenue, higher earnings

Posted: Fri, Jan 30, 2009, 6:23 AM ET (1123 GMT)
The division of The Boeing Company that includes the company's space activities reported revenues almost identical to last year but higher earnings for 2008, the company announced this week. The Network and Space Systems unit of Boeing's Integrated Defense Systems division had revenues for all of 2008 of $11.3 billion, down only slightly from the $11.5 billion reported in 2007. However, the unit had earnings of $1.03 billion in 2008, up from $862 million in 2007. The company does not provide more specific information about the performance of its space units. The performance stood in stark contrast to the company overall, which recorded an operating loss of $205 million in the quarter and a 32 percent decline in full-year earnings because of a strike that stopped work in its commercial aircraft division last fall. Boeing also announced plans Wednesday to lay off 10,000 workers.