Aircraft giant posts lower profit

Wednesday, July 19, 2000 | 11:38 a.m.

THE ASSOCIATED PRESS

SEATTLE -- Second-quarter profits at the Boeing Co. fell 11.6 percent, in part because of a one-time $34 million charge associated with its rocket program, but the aerospace giant still beat Wall Street expectations comfortably.

For the three months ended June 30, Boeing made $620 million, or 71 cents per share on sales of $14.8 billion, the company said today. A year ago, the company made $701 million, or 75 cents per share, on sales of $15.1 billion. Sales were off 2 percent from 1999.

Shares of Boeing traded down early today on the New York Stock Exchange at $44.125, down $1 or 2.2 percent.

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