Boeing set a company record for sales in its 2013 fiscal year and attributed the number to sales of commercial aircraft and military equipment despite sequestration cuts on the U.S. defense budget, DoD Buzz reported Wednesday.
Brendan McGarry writes the airplane maker had a 6-percent revenue increase from fiscal 2012 to $86.6 billion last year, and a 20-percent profit increase year-over-year to $7.07 earnings per share.
Jim McNerney, Boeing chairman and chief executive officer, noted the performance of the company’s defense arm in particular, which posted earnings of $33.2 billion, a 2-percent increase.
“Our Defense, Space & Security unit overcame a tough operating environment to record expanded revenue, earnings and margins, ” he said.
McGarry notes sales in the network and space systems and global services and support segments increased 8 percent and 1 percent, respectively.