Boeing Company reported Wednesday its net income in the fourth quarter of 2008 plunged to a loss of $56 million, on a strike, a charge related to the 747 and a litigation reserve.
The company lost 8 cents per share compared to a profit of $1.03 billion or $1.36 per share in the same period of 2007. The results were below analyst's forecast who predicted on average, earnings of 78 cents in the quarter, according to a Reuters survey.
Revenue in the fourth quarter also fell 27 percent missing forecasts to $12.68 billion on dropping jet deliveries when a strike in a commercial aircraft operations plant in Seattle closed for 58 days through early November, the Associated Press noted.
Analysts forecasted revenue of $13.40 billion, according to AP.
Boeing's forecast a revenue of $68 to $69 billion for 2009 and earnings per share of $5.05 to $5.35 as the company expects continue growth in Boeing Commercial Airplanes and Integrated Defense Systems; reduced spending and restructurate internal organizations.