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Boeing Numbers Up Sharply on Commercial Satellite, SLS Contracts
PARIS — Boeing Co. said a sharp increase in commercial telecommunications satellite revenue and new contracts for NASA’s Space Launch System were responsible for increased revenue and operating profit in its Network and Space Systems division.
In an Oct. 23 filing with the U.S. Securities and Exchange Commission, Chicago-based Boeing said that for the nine months ending Sept. 30, the division’s revenue was $624 million, up 6 percent from the same period last year. Operating profit, at $486 million, was 7.8 percent of revenue compared with an operating margin of 7.2 percent last year.
Boeing is under contract to build telecommunications satellites for both fixed and mobile applications for Intelsat of Luxembourg and Washington; Inmarsat of London; the Mexican government; Satmex of Mexico; and ABS of Hong Kong. In the three months ending Sept. 30, Satmex confirmed its previously announced purchase of a second Boeing 702 SP all-electric-propulsion satellite.
Boeing said that during the nine months ending Sept. 30, commercial satellite revenue increased by $257 million compared with the same period a year ago.
Boeing’s contracts with NASA on SLS, including the heavy-lift vehicle’s core stage and interim upper stage, generated $295 million in additional revenue compared with the same period a year ago.
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