Aerospace giant Boeing today reported a second-quarter profit of $1 billion and raised its outlook for the rest of 2007, saying its civilian aircraft and defence business is strong.
Boeing also said its 787 Dreamliner programme, a future profit machine with 683 orders so far, is on schedule for deliveries next year despite some "pressures" from suppliers.
The results for the April-June quarter compared with a loss of $160m in the same period a year ago when Boeing paid a hefty settlement to the US government for cost delays in a surveillance aircraft order.
But even excluding that payment, Boeing said its adjusted earnings per share surged 141% from a year ago.
The profit amounted to $1.35 per share, 19 cents better than the average estimate on Wall Street.
Revenues increased 14% from a year ago to $17 billion.
Boeing said the results "reflect strong performance across the commercial airplane and defence businesses".
The US giant also increased its 2007 guidance for revenue, earnings per share and cash flow and reaffirmed its 2008 outlook.
For the 787, Boeing said its plans remain on schedule including its first flight, which is set to occur by the end of September.
Boeing said its Commercial Airplanes unit accounted for an operating profit of $960m dollars as revenues increased 22% to $8.7 billion.
