McDonnell Sees 50% Drop in Profit

McDonnell Douglas Corp. reported a drop of more than 50% in second-quarter earnings, primarily because of costs to develop a new jumbo jetliner and higher expenses for a military cargo plane. Profit was $38 million, or $1 a share, on revenue of $4.9 billion for the three months ended June 30. That compared to earnings of $77 million, or $2.01 a share, on revenue of $4.96 billion in the same period a year earlier.