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twitterManufacturer profit dives 84 percent on charges
Wednesday, Feb. 2, 2005 | 9:01 a.m.
CHICAGO -- Aerospace giant Boeing Co.'s fourth-quarter profit plunged 84 percent, weighed down by charges for shutting down production of its 717 jet and losing out on an aerial tanker contract with the Pentagon.
The results reported today still easily exceeded Wall Street's expectations as earnings and sales rose at its defense unit, now by far its biggest business. But the commercial airplanes division lost money during the quarter on charges and a decline in deliveries.
Net earnings for the October-through-December period were $186 million, or 23 cents per share, down from $1.13 billion, or $1.40 per share, a year earlier.
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