More Videos
- Buffett: I Did 'Some Dumb Things' in Investing in '08
- Citigroup's Latest Rescue Plan May Still Not Be Enough
- Saudi Prince Walid Humbled by Citigroup's Woes
- Why Some 'Weathy' Americans May Avoid Higher Taxes
- States Where the $200,000+ Crowd Lives
- Obama Sees Big Fight Ahead Over His Budget Plan
- HSBC Plans Share Sale Of Up to $18 Billion: Sources
- Obama Walking Tightrope On Bailing Out US Banks
- Markets: Recession the Only Thing Roaring in March
- Mad Mail: Is BP Too Debt Heavy?
- Lightning Round: Disney, Dell, ConAgra and More
- Lightning Round OT: China Medical, PPG Industries and More
- BHP Billiton: Out of Obama’s Reach
- A Little Risk to Rebuild Your Portfolio
- Game Plan: Investor Havens Even in This Market
- Warren Buffett "Has Some Explaining to Do" In Tomorrow's Letter to Shareholders
- Your First Move For Monday March 2nd
- Web Extra: Fast & Furious Trades For Week Ahead
Text Size 
Boeing said on Monday its fourth-quarter net loss was four cents a share wider than it reported late last month, due to a decline in value of planes in its financing portfolio and the effect of an arbitration award.
 |
As a result, the plane maker and defense contractor said its fourth-quarter net loss was 12 cents per share and its full-year 2008 net income was $3.67 per share.
On Jan. 28, Boeing reported an unexpected fourth-quarter loss of $56 million, or 8 cents per share, caused by a strike by its machinists' union, extra costs due to delays on the newest version of its 747 jumbo and a one-time litigation charge.
The company said the receipt of new third-party aircraft value publications led to a reduction in the collateral values of aircraft in its customer financing portfolio. Boeing sometimes provides financing for airlines to buy its planes through its Boeing Capital Corp unit.
It said it also had to increase its liabilities resulting from an arbitration award, but gave no further details.
Boeing made no adjustment to its financial forecasts for 2009. Its shares [BA
Loading...
()
] closed down 12 cents at $42.80 on the New York Stock Exchange.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes