Boeing 2005 Annual Report Download - page 5

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Message from the Chairman
To the Shareholders and Employees of The Boeing
Company: Let me begin by saying that I’ve known
and admired this company for a long time — as a
supplier partner, a member of the board, and, since
July 2005, as chairman and chief executive — and
I am pleased with our strong results in 2005. Last
year provided us with a terrific foundation for even
better performance this year and beyond.
charting the course
Our earnings per share rose tion in our commercial airplane who maintained their discipline
42 percent, our revenues rose business for four weeks and and focus throughout a year of
5 percent, and our operating another strike at our launch challenges and distractions,
cash flow doubled — to $7 bil- systems business. and especially to James Bell,
lion. Excluding special items, who led the company as
our core earnings per share The growing strength of our interim CEO for several
rose 16 percent. Our operating core commercial airplane and months. We can all be proud
engine is hitting on all cylinders. defense businesses can be of an excellent team effort that
seen in the 34 percent increase revolved around satisfying our
The year was tremendously in total backlog — to a record customers and executing our
successful for our Commercial $205 billion at the close of programs to plan. Because of
Airplanes business, which set 2005, nearly four times our our people’s performance,
a Boeing record with 1,002 total revenues for the year. In Boeing is a vital company —
net (1,029 gross) orders for addition, our stock price with strong financial results, a
new airplanes. Our Integrated increased 36 percent over the burgeoning order book, and
Defense Systems business course of the year, leading all extraordinary upside potential.
showed strong financial major U.S. aerospace compa-
performance — with record nies in share-price apprecia- Charting the Course
revenues, earnings and tion during 2005. Finally, we
margins — and continued its increased our shareholder Boeing is a unique company
success in building a larger dividend by 20 percent. with unique strengths. Our
backlog than that of any other people have a passion for
defense contractor. We I can’t take credit for this per- what they do and take pride in
achieved these results despite formance, but I can give full how they do it. They exhibit an
a softening defense market, a credit and thanks where it is enterprising spirit, put the cus-
strike that shut down produc- due — to the Boeing employees tomer first and believe that the
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