Boeing Co. profit dropped 10% in the...

Boeing Co. profit dropped 10% in the first three months of the year, partly because of fewer commercial airplane deliveries, the aerospace company said Monday.

Net earnings were $292 million, or 86 cents per share, for the quarter ended March 31, compared to earnings of $325 million, or 96 cents per share, last year. Sales for the first three months were $6.3 billion, down from $6.6 billion a year ago.

The Seattle-based company delivered 82 commercial jets, compared to 93 in the first quarter of 1993. It still projects a 1994 total of 206 plane deliveries and $21 billion in sales.