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Boeing reports record revenues, earnings for 2007

The Chicago-based Boeing Company announced Wednesday that its 2007 net earnings increased 84% to a record $4.1 billion, up from $2.2 billion in 2006.

Revenue of the company in 2007 rose 8% to a record $66.4 billion. According to the Q4 financial statistics released by Boeing, its revenue was $17.5 billion during the period while the operating margin increased to 8.7% driven by margin expansion in its core businesses. Operating earnings grew 32%, while earnings per share increased only 5% to $1.36 per share affected by a higher effective tax rate. Boeing Commercial Airplanes (BCA) played an important role in the revenue increase last year. For the full year, BCA revenues rose 17% to $33.4 billion on an 11% increase in airplane deliveries and higher service volume. Operating earnings grew 31% to $3.6 billion while margins expanded to 10.7%, driven by higher delivery volume and services sales. Boeing’s 2008 revenue guidance is now between $67 and 68 billion, down from between €67.5 billion and 68.5 billion due to the 787 delay. (people.com.cn)