Boeing: Boeing Reports First-Quarter Earnings

Boeing Reports First-Quarter Earnings

First-quarter net income was $0.6 billion with earnings per share of $0.86 which includes the previously announced $0.38 per share reduction from revised twin-aisle commercial airplane production rates and lower price escalation forecasts
Revenue rose 3 percent to $16.5 billion on higher commercial airplane deliveries and higher volume in defense
Operating cash flow was $0.2 billion
Backlog at $339 billion -- nearly five times current annual revenues
2009 earnings outlook reduced to reflect changes in commercial market; outlook for Integrated Defense Systems is reaffirmed on solid execution