Increased Sales, Interest Income Boost Boeing’s Net
Boeing Co. reported second-quarter profit of $136 million, compared to $102 million for the same quarter a year ago.
Revenue for the quarter ended June 30 was $3.37 billion, compared to $2.7 billion a year earlier.
For the first six months of 1985, Boeing reported profit of $246 million on revenue of $6.3 billion. For the first half of 1984, Boeing earned $180 million on revenue of $4.8 billion.
During the second quarter, 10 airlines announced orders for 54 jets worth about $1.6 billion. In the same period last year, orders were announced for 55 airplanes worth about $1.5 billion.
The aerospace manufacturer said the increased profit was due primarily to increased sales of airliners and increased interest income. The increases were partially offset by a lower level of government work and the increased cost of research, development and engineering for future military and space markets.
Chairman T. A. Wilson said that the outlook for new orders is generally favorable but that the market remains extremely competitive.
He said that, as of June 30, the company had $1.8 billion in cash and short-term investments, up from $1.6 billion a year ago.
The company’s backlog of firm orders totaled $21.8 billion.
For detailed data and results of other companies, please see tables, Page 17.