Boeing Space System Posts Lower Revenue For First Quarter 2008

[Satellite Today – 4-23-08] Revenues for Boeing Co.’s Network and Space Systems segment fell 3 percent for the first quarter of 2008, the company announced April 23.
    The segment posted revenues of $2.7 billion for the quarter ending March 31, compared to $2.8 billion in 2007. The segment also posted a $267 million operating loss for the quarter, an 80 percent increase over 2007’s $148 million operating loss. 2007’s results were affected by adjustments related to the United Launch Alliance joint venture and revised cost estimates on a satellite program, the company said.
    Overall, Boeing reported $16 billion in revenues for the quarter, a 4 percent increase from 2007’s $15.4 billion, while earnings improved from $877 million a year ago to $1.2 billion in the 2008 first quarter.