U.S. aircraft manufacturer Boeing reported strong
quarterly and annual earnings on Wednesday, while continuing to fight
for the top market spot with its arch rival, Airbus.
The company - now based in Chicago but with a strong continued
presence in its hometown, Seattle -- reported fourth quarter profits
of $1.4 billion, a 20 percent increase over the same period
in 2010.
"We enter 2012 with renewed momentum, and proven business and
product strategies," said chairman, president and chief executive Jim
McNerney.
"With a record backlog and intense focus on productivity, we are
well positioned to deliver growth and increased competitiveness, even
as we face constrained US defence spending and pension headwinds."
However, Wednesday's figures were not as strong as the previous
release of third-quarter growth, which had registered a 31 percent
increase over the prior-year period.
For the year, Boeing reported profits of $4 billion, 21 percent better than the previous year.
Revenues came in at $19.6 billion for the quarter, an
18 percent quarter-on-quarter rise; and $68.7 billion for the
year, a 7 percent increase.
However, the business it took in kept it from claiming the crown
for the most planes sold in a year. That prize had gone to Airbus,
which reportedly sold 534 aeroplanes in 2011, compared with Boeing's
477. But, because Boeing has sold pricier jets, the two stand closer
in terms of revenue.
Boeing said it expected to deliver between 585 and 600 commercial
aeroplanes in 2012.
