Boeing Defense, Space & Security
Boeing Defense, Space & Security's fourth-quarter revenue rose 6 percent to $8.5 billion on increased military aircraft deliveries and higher volume in services. Operating margins were 9.7 percent reflecting strong performance in Boeing Military Aircraft and Global Services & Support partially offset by additional costs on the Airborne Early Warning and Control (AEW&C) program which reduced margins by 1.6 points (Table 5).
For the full year, revenue increased by 5 percent to $33.7 billion on growth in Global Services & Support and Boeing Military Aircraft segments. Operating earnings grew 2 percent to $3.3 billion, producing operating margins of 9.8 percent.
Table 5. Boeing Defense, Space & Security Operating Results | |||||||
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(Dollars in Millions) | 2009 | 2008 | Change | 2009 | 2008 | Change | |
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Revenues |
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Boeing Military Aircraft | $3,733 | $3,142 | 19% | $14,057 | $13,311 | 6% | |
Network & Space Systems | $2,385 | $2,861 | (17%) | $10,877 | $11,346 | (4%) | |
Global Services & Support | $2,429 | $2,038 | 19% | $8,727 | $7,390 | 18% | |
Total BDS Revenues | $8,547 | $8,041 | 6% | $33,661 | $32,047 | 5% | |
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Earnings from Operations |
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Boeing Military Aircraft | $353 | $348 | 1% | $1,513 | $1,277 | 18% | |
Network & Space Systems | $141 | $228 | (38%) | $839 | $1,034 | (19%) | |
| Global Services & Support | $335 | $305 | 10% | $947 | $921 | 3% | |
| Total BDS Earnings from Operations | $829 | $881 | (6%) | $3,299 | $3,232 | 2% | |
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| Operating Margins | 9.7% | 11.0% | (1.3)Pts | 9.8% | 10.1% | (0.3)Pts | |
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