McDonnell Douglas Corp.’s earnings dipped 27.5% to...

McDonnell Douglas Corp.’s earnings dipped 27.5% to $70.4 million in the second quarter. The St. Louis-based aerospace firm blamed the decline primarily on higher development expenditures for the Air Force’s advanced tactical fighter competition and the new MD-11 tri-jet, higher production costs in major aircraft programs, increased losses in the information systems segment and higher interest expenses, which were offset in part by lower income taxes. Revenue totaled $3.48 billion, down from $3.53 billion.