Boeing (BA) Sees Q2 Charge of $0.22 Per Share; Reiterates FY08-09 Guidance
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The Boeing Company (NYSE: BA) announced its Q2 financial results will include a charge of approximately $0.22 per share on previously acknowledged delays on its Airborne Early Warning & Control (AEW&C) program.
(The pre-tax charge on the AEW&C program is estimated to be approximately $250 million and is primarily due to subsystem development issues on the electronic warfare and ground support systems as well as additional time required for integration testing)
Boeing continues to expect earnings per share of $5.70 to $5.85 in 2008, as company-wide performance and productivity are expected to offset the AEW&C charge by year-end. The company also continues to expect strong double-digit earnings growth in 2009 with earnings per share guidance unchanged at $6.80 to $7.00. (FY08 EPS consensus is $5.96 and FY09 EPS consensus is $6.97)
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