Boeing Defense, Space, Security Earnings Rise on Military Aircraft, Global Services

Boeing Co. (NYSE: BA) on Wednesday released financial results for the fourth quarter of 2011.

The company’s defense, space and security unit earned $865 million on $8.471 billion in quarterly revenue, 6 and 4 percent increases over results from the fourth quarter of 2010, respectively.

Military aircraft and global services and support operations drove growth, as network and space systems profit and revenue fell on the termination of the Brigade Combat Team Modernization program, Boeing said.

Military aircraft earnings increased 19 percent over the prior year period to $347 million as those revenues grew 9 percent to $3.95 billion over the period.

Global services and support earnings rose 13 percent to $321 million as GS&S revenue increased 21 percent year-over-year to $2.55 billion.

The company said it invested more in network and space systems research and development in the quarter and N&SS won work with the U.S. Missile Defense Agency to help develop and sustain ground-based midcourse defense.

You may also be interested in...


Digital Force Technologies to Become Platform Company of DC Capital Partners

Digital Force Technologies has signed a strategic partnership with DC Capital Partners, allowing the private equity investment firm to run DFT as a platform company within its portfolio of businesses.


Lockheed Gets $710M Contract Modification for F-35 Production Materials

Lockheed Martin (NYSE: LMT) has been awarded a $709.8M contract modification by Naval Air Systems Command to obtain materials needed for the low-rate initial production of additional F-35 jets for U.S. and foreign military sales customers. The modification funds material purchases for lot 15 through lot 17 aircraft of the U.S. Air Force, Navy and Marine Corps as well as FMS and non-Department of Defense participants, DoD said Monday.