Charges related to the shut down of the Connexion satellite Internet unit pushed Boeing Co.’s profit lower in the 2006 third quarter, the company announced Oct. 25.

Boeing posted a profit of $694 million in the quarter which closed Sept. 30, down from earnings of $1 billion in the same period in 2005. Revenues improved from $12.4 billion to $14.7 billion over the same period.

Boeing announced in August that it will end the Connexion service at the end of 2006. The company is believed to have lost about $1 billion on the satellite broadband service and has previously announced it would take a $350 million charge to end the venture.

Boeing Integrated Defense Systems, which includes the company’s space business, reported revenues of $7.8 billion in the quarter, up 4 percent from the 2005 third quarter, but the Network & Space Systems unit reported a decline in revenues from $3 billion a year ago to $2.9 billion in the 2006 third quarter due to due to lower volume in the Ground- based Midcourse Defense program and fewer planned completions in the commercial satellite business.

Integrated Defense Systems reported an operating profit of $879 million in the most recent quarter, down from $1.3 billion in the 2005 third quarter. Network & Space Systems reported operating profit of $228 million, down from $712 million in the 2005 third quarter when Boeing recorded a $569 million gain from the sale of Rocketdyne.