Boeing 2008 Annual Report Download - page 3

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Operational Summary
IEarned $2.7 billion on revenues of $60.9 billion, both down from 2007
levels due to the strike that halted commercial airplane production for nearly
60 days, a 747 program charge and increased costs on an airborne early
warning program.
IIncreased our record order backlog to $352 billion at year end, an eight
percent increase over 2007, reflecting 662 net commercial orders and impor-
tant new defense contracts won during the year.
IReturned value to shareholders by increasing our quarterly dividend by
five percent to 42 cents a share, our sixth dividend increase since 2003, and
by repurchasing 42.1 million shares.
IAdded key new business, including 484 orders for 737s, 93 for the 787,
54 for the 777, NATO and Qatar orders for C-17s, a follow-on F-15 order
from the Republic of Korea and U.S. contracts for CH-47, V-22 and C-17
support activities.
IReached significant Integrated Defense Systems program execution mile-
stones, including successfully completing the most challenging Ground-based
Midcourse Defense system test to date; completing final assembly of the U.S.
Navy’s first P-8A; achieving the first on-board firing of the Airborne Laser’s
high-energy chemical laser; delivering the 200,000th Joint Direct Attack
Munitions tail kit; rolling out the first F-15SG for Singapore; and finalizing sev-
eral strategically important defense-related acquisitions.
IAlso achieved major program milestones at Boeing Commercial Airplanes,
including powering on the first 787 and testing the landing gear, horizontal
stabilizers, wing box, and airframe pressurization for that program; flight test-
ing the 777 Freighter; and delivering the 700th 777 and 1,400th 747.
IBroadened our environmental leadership with numerous accomplishments,
including receiving ISO 14001 certification for all major manufacturing facilities;
completing two biofuel demonstration flights with different airline, aircraft
engine manufacturer and fuel refining technology development partners; and
working with three airline partners to demonstrate significant reductions in
fuel consumption and carbon-dioxide emissions made possible by using an
innovative Air Traffic Management concept called “Tailored Arrivals.”
The Boeing Company
Boeing is the world’s lead-
ing aerospace company
and the largest manufac-
turer of commercial jetliners
and military aircraft com-
bined, providing products
and tailored services to
airlines and U.S. and allied
armed forces around the
world. Our capabilities
include rotorcraft, electronic
and defense systems,
missiles, satellites, launch
systems and advanced
information and communi-
cation systems. Our reach
extends to customers in
more than 90 countries
around the world, and we
are a leading U.S. exporter
in terms of sales. With cor-
porate offices in Chicago,
Boeing employs more than
162,000 people across
the United States and in
70 countries. Our enterprise
also leverages the talents
of hundreds of thousands
more people working for
Boeing suppliers worldwide.
2008 2007 2006 2005 2004
Revenues 60,909 66,387 61,530 53,621 51,400
Net earnings 2,672 4,074 2,215 2,572 1,872
Earnings per share* 3.65 5.26 2.84 3.19 2.24
Operating margins 6.5% 8.8% 4.9% 5.2% 3.9%
Contractual backlog 323,860 296,964 216,563 160,637 104,778
Total backlog† 352,025 327,137 250,211 205,215 152,873
2008 Financial Summary U.S. dollars in millions except per share data
*Before cumulative effect of accounting change and net gain (loss) from discontinued operations
†Total backlog includes contractual and unobligated backlog. See page 23 of the 10-K.