Boeing Co. said its earnings and revenue...
Boeing Co. said its earnings and revenue fell for the fourth quarter and full year, and the world’s largest airplane maker projected another sales decline in 1995.
Boeing earned $157 million, or 46 cents a share, in the fourth quarter, down from $304 million, or 89 cents per share, a year earlier. Fourth-quarter revenue also fell to $5.1 billion from $5.7 billion a year earlier.
Boeing fared little better over the full year, reporting that net income declined to $856 million, or $2.51 a share, from $1.24 billion, or $3.66 a share, a year earlier.
Sales were $21.9 billion in 1994, compared to $25.4 billion in 1993. The company projected sales this year of between $20 billion and $21 billion.
It said the lower earnings in 1994 were primarily due to fewer commercial aircraft deliveries, higher research and development spending and increased debt expenses. Seattle-based Boeing delivered 270 commercial jets in 1994, down from 330 in 1993. It expects only 230 deliveries this year.