[Satellite TODAY 10-22-09] Boeing posted a $1.56 billion net loss in its 2009 third quarter financial results, falling well below analyst’s expectations and resulting in a reduced full-year profit forecast, the company announced Oct. 21.
    Boeing’s Network and Space Systems division earnings fell 17 percent to $252 million from $302 million in 2008, despite a 3 percent overall revenue gain for the company’s Integrated Defense Systems unit, which includes its space sector, at $2.7 billion. The company said its sector results were driven by lower volume on intelligence and security systems, missile defense, and combat systems, offset by contracts to provide four of its new 702B satellite to Intelsat, awarded in July. 
    Boeing’s overall loss stemmed from $3.5 billion in charges the company accumulated due to delays in its 787 Dreamliner and 747-8 jumbo jet programs. The $1.56 billion loss, contrasts with a $695 million in net income reported in the same period of 2008.
    Boeing’s overall sales rose 9.1 percent to $16.7 billion from 2008 but was hurt by a strike. The company predicts its full-year sales will be in the range of $68 billion to $69 billion and said that it would not announce projections for 2010 until January. 

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