Boeing Co.: The Seattle-based aerospace firm’s 1989...
From Times Staff and Wire Reports
Boeing Co.: The Seattle-based aerospace firm’s 1989 net income rose 58% over the previous year to $973 million. Revenue jumped 19.5% to $20.3 billion. The 1989 results include $298 million attributable to an accounting change for income taxes. Fourth-quarter sales remained essentially flat at $4.8 billion, but earnings tumbled 55% to $77 million. The company said the 48-day strike by the International Assn. of Machinists & Aerospace Workers caused delivery delays, cutting fourth-quarter sales by about $2 billion. The company also cited higher-than-anticipated lump-sum wage payments and strike disruption costs.
