Chicago: Boeing Co, the world’s second-largest plane maker, on Wednesday posted a narrowed quarterly profit on an 11% decline in commercial airplane deliveries.
Boeing reported a first-quarter net profit of $519 million, or 70 cents per share, compared with a year-earlier profit of $610 million, or 87 cents per share.
The company beat an average Wall Street estimate of 64 cents per share, according to Thomson Reuters I/B/E/S.
The results include a 20-cent-per-share charge on health care legislation.
Revenue was $15.2 billion, down 7.8% from a year ago. The company reported an order backlog amounting to $315 billion.
The company, which suffered a drop in orders for its jetliners last year as well as military budget cuts, predicted it would earn $3.50 per share to $3.80 per share in 2010, including charges related to recent health care legislation.
Boeing reiterated that the first delivery of its long-delayed 787 Dreamliner is still planned for the fourth quarter of 2010.