Manufacturing Industry
Boeing reports third quarter results
Airline Industry Information, Oct 23, 2008
AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD
The Boeing Company (NYSE:BA) has released its results for the third quarter 2008.
Revenues for the quarter showed a decrease of 7% from the third quarter 2007 at USD15.3bn, while revenues for the nine months of 2008 showed a decline of 1% compared to the same period last year at USD48.2bn.
The company's third quarter net income showed a decrease of 38% at USD695m and earnings per share dropped by 33% to USD0.96 per share. Net income for the first nine months of 2008 was USD2.8bn, a decline of 9% from the same period last year.
On 6 September 2008 an ongoing strike of nearly 27,000 Boeing machinists began, which forced the company to halt production. Boeing stated that the third quarter results reflect this, as well as supplier production challenges on customer-furnished galleys for certain wide-body airplanes.
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