Boeing Bonuses Lowered for Failed Missile Tests
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Boeing Co. lost $107 million in missile defense bonuses last year because of two failed intercept tests, the top U.S. missile defense official said.
The company was awarded $299.7 million, or 73.6% of a potential $407 million. It lost the remainder because of tests in December 2004 and February 2005 when interceptor missiles never left their silos, said Air Force Lt. Gen. Henry Obering, director of the U.S. Missile Defense Agency.
Boeing manages the nation’s fledgling missile defense. Its 2005 bonus is slightly higher than its 72% average since becoming the system’s prime contractor in 1998, according to agency data.
Shares of Chicago-based Boeing fell 72 cents to $68.31.
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