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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.

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