Boeing 2007 Annual Report Download - page 4

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1
Operational Highlights
■ Achieved records for revenues,
earnings, cash flow and backlog.
Revenue rose 8 percent to $66.4 bil-
lion; net income grew 84 percent to
$4.1 billion; cash flow rose 28 percent
to $9.6 billion; and total backlog
increased more than 30 percent to
$327 billion.
■ Set company record for commercial
airplane orders and a third consecutive
year of orders exceeding 1,000 planes
with a total of 1,413 net (1,423 gross)
orders during 2007. Also set single-
year order records for our 787, 737
and freighters.
■ Increased dividend 14 percent;
approved a new share-repurchase plan
for up to $7 billion; and repurchased
29 million shares during the year.
■ Further strengthened our balance
sheet by increasing cash and short-
term investments by $2.9 billion
and reducing consolidated debt by
$1.3 billion.
■ Continued our focus on growth
and productivity with substantial addi-
tions to backlog, major efficiency gains
and solid execution on production
and services programs, leading to
overall company margins of 8.8 per-
cent and simultaneous double-digit
operating margins for the year in both
our commercial airplane and defense
businesses for the first time ever
(10.7 percent each).
■ Captured nine out of 11 major
competitions entered by Integrated
Defense Systems, including key orders
for Tracking and Data Relay Satellites,
Joint Cargo Aircraft, the Airborne Early
Warning and Control aircraft for the
Republic of Korea and two key pieces
of NASA’s Ares program; received 100-
percent award fee for Ground-based
Midcourse Defense program and 100
percent of incentive milestone criteria
on Future Combat Systems.
■ Achieved significant Commercial
Airplanes milestones, including surpass-
ing 800 orders for the 787; 7,000
orders for the 737; and 1,000 orders
each for both the 767 and 777. Began
787 production, completed firm config-
uration of the 747-8 Intercontinental
passenger plane, prepared for 777
Freighter production and continued
investing for future growth.
2007 Financial Highlights
U.S. dollars in millions except per share data 2007 2006 2005 2004 2003
Revenues 66,387 61,530 53,621 51,400 49,311
Net earnings 4,074 2,215 2,572 1,872 718
Earnings per share* 5.26 2.84 3.19 2.24 0.85
Operating margins 8.8% 4.9% 5.2% 3.9% 0.8%
Contractual backlog 296,964 216,567 160,637 104,778 104,855
Total backlog† 327,166 250,253 205,215 152,873 155,498
*Before cumulative effect of accounting change and net gain (loss) from discontinued operations
†Total backlog includes contractual and unobligated backlog. See page 25.