BOEING REPORTS US$3.3 BIL NET INCOME IN 2010

KUALA LUMPUR, Jan 27 (Bernama) -- The Boeing Company, which reported a net
income of US$3.3 billion in 2010, up 152 per cent from US$1.312 billion recorded
in 2009, aims to deliver between 485 and 500 commercial airplanes in 2011.

The delivery includes the first 787 and 747-8 deliveries (combined 25 to 40
units), which are expected to begin in the third-quarter and mid-2011,
respectively, said Boeing in a statement today.

Commercial Airplanes' 2011 revenue is expected between US$36 billion and
US$38 billion with operating margins between 7.5 per cent and 8.5 per cent.

"We're entering 2011 well-positioned for growth, with a large order book,
increasing global demand for commercial airplanes, greater clarity around our
domestic defence outlook and significant international defence sales
opportunities," Boeing Chairman, President and Chief Executive Officer Jim
McNerney was quoted as saying in the statement.

Boeing said the year's focus was to deliver the 787 and 747-8; manage
disciplined increases in commercial airplane production rates and drive improved
competitiveness and financial performance throughout the business.

"Boeing's 2011 revenue guidance is between US$68 billion and US$71 billion
and reflects the initial 787 and 747-8 deliveries," it said.

Defence, Space & Security's revenue for 2011 is expected between
US$31.5 billion and US$33 billion with operating margins between 8.5 and 9 per
cent.

Boeing's 2011 capital expenditures is expected to be approximately
US$2.3 billion while research and development (R&D) forecast is between US$3.7
billion and US$3.9 billion.

Operating cash flow is expected to be greater than US$2.5 billion in 2011,
including US$0.5 billion of discretionary pension contributions.

For the fourth-quarter, Boeing reported an income of US$1.2 billion or
US$1.56 per share on a revenue of US$16.6 billion.

Boeing Commercial Airplanes fourth-quarter revenue decreased 11 per cent
to US$8.2 billion on lower expected 777 and 747 airplane deliveries.

Operating margin was 7.7 per cent, reflecting the lower deliveries and
higher R&D and other period costs.

"Boeing delivered strong operating performance and exceptional cash
generation from core production and services businesses in 2010 which helped
mitigate the impact of development programme challenges," said McNerney.

Its revenue for the fourth-quarter of 2010 stood at US$64.3 billion.

For the full year, revenue decreased 7 per cent to US$31.8 billion on the
lower expected 777 and 747 airplane deliveries.

Commercial Airplanes operating earnings totalled $3.0 billion on higher
planned R&D spending.

The prior-year results were impacted by the reclassification of
787 R&D costs of US$2.7 billion and 747 charges totalling US$1.4 billion.

It said commercial airplanes booked 180 gross orders during the quarter
while 22 orders were removed from its order book.

This contrasts with the year-ago period when net orders amounted to 62
airplanes.

For the full year, net orders totalled 530 airplanes.

Contractual backlog remained strong with 3,443 airplanes valued at US$256
billion, it added.