Boeing Expects Strong Earnings

Despite a second-quarter charge of approximately 22 cents per share for delays on its airborne early warning & control (AEW&C) program, Boeing expects per-share earnings of $5.70 to $5.85 in 2008. The company also continues to expect strong double-digit earnings growth in 2009 with earnings per share unchanged at $6.80 to $7. The pre-tax charge on the AEW&C program will total approximately $250 million, primarily due to subsystem development “issues” on the electronic warfare and ground support systems as well as additional time required for integration testing.