Boeing Profit Rises on Sharply Higher Revenue
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Boeing Co. reported earnings of $148 million for the first quarter ended March 31.
That compares to a $110-million profit posted for the same quarter in 1985, the company said. Revenue for the 1986 quarter was $3.52 billion, up sharply from $2.93 billion a year earlier.
Earnings before federal income taxes were $233 million for the first quarter of 1986, compared to $165 million for the 1985 quarter. The increase came primarily from a higher sales volume and increased interest income, the company said.
Boeing announced orders valued at about $5 billion during the first quarter, compared to $1 billion in the year-ago quarter.
The total backlog of unfilled orders as of March 31 was $25.4 billion, compared to $24.7 billion at the end of 1985. Of the March 31 total, $19.1 billion was for commercial customers and $6.3 billion for the U.S. government.
Boeing said it estimates the market for new planes to be $140 billion in current dollars over the next 10 years in current dollars.
“Boeing is well situated to compete effectively for this market,” the company said in a statement.
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